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PM Modi launches RuPay card in UAE - Check its features, benefits
During the card launch at the Emirates Palace in Abu Dhabi, Indian Ambassador to the UAE, Navdeep Sing Suri, said that twelve major business outlets here will start accepting the RuPay card starting next week.
Prime Minister Narendra Modi launched RuPay Card, an Indian indigenous equivalent of Mastercard or Visa, in the UAE today. The United Arab Emirates is the first country in the Middle East where the RuPay card has been launched. The Prime Minister used his RuPay card for purchasing the laddoos at a mock Chhappan Bhog Abu Dhabi outlet set up during the launch.
"He bought one kilo of motichur laddoo by using the card," Vinay Verma, Owner and Managing Director of Chhappan Bhog told the Khaleej Times, adding "It is great pleasure and owner for us to be part of this ambitious launch. He is going to take it (the laddoo) to Bahrain as prasad for the temple. He said he is very keen that we will be using the RuPay card."
During the card launch at the Emirates Palace in Abu Dhabi, Indian Ambassador to the UAE, Navdeep Sing Suri, said that twelve major business outlets here will start accepting the RuPay card starting next week. Ambassador Suri said three banks in the UAE -- Emirates NBD, Bank of Baroda and FAB -- will start issuing the card by next week.
A Memorandum of Understanding (MoU) to establish a technology interface between the payment platforms in India and UAE was exchanged between the National Payments Corporation of India and UAE`s Mercury Payments Services.
Adeeb Ahamed, Managing Director, LuLu Financial Group said low transaction processing fee makes RuPay more economically feasible for banks, merchants as well as consumers, and can be easily leveraged by business to reach out to a larger segment of the society.
"Indian tourists, who are one of the largest numbers to come to UAE will be able to utilize the RuPay cards here as well, as more strategic partnerships will make it more viable. We believe that through the building of a larger ecosystem, RuPay can position itself as a reliable, premium brand in the payment cards space."
What is RuPay Card
Rupay Debit Card is an indigenous domestic debit card accepted at all ATMs for cash withdrawal, and at most of the PoS machines - for making cashless payment for purchases - in the country. It is a highly secure network that protects against anti-phishing, and also the first-of-its-kind domestic Debit and Credit Card payment network of India, according to RuPay website.
Rupay Debit Card, introduced by National Payment Corporation of India (NPCI), comes in many categories, but mainly in two types: RuPay Platinum and RuPay Classic. These cards carry your savings account with you anytime, anywhere and you can shop, pay bills, and withdraw cash.
RuPay Platinum: With this card, you can make your travel experience hassle-free with access to 30+ domestic lounges two times per calendar quarter per card. You can also earn 5% cashback on your utility bill payments capped at Rs 50 per month per card.
You can also keep yourself and your family safe with Personal Accident Insurance and Permanent Total Disability cover up to Rs 2 Lakhs, according to RuPay website.
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RuPay Classic: This card offers comprehensive accidental Insurance Cover, and it also keeps your family safe with Personal Accident Insurance and Permanent Total Disability cover up to Rs 1 Lakh.
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