Connect with us

Technology

India Approves Rs. 1,300 Crore Plan to Promote RuPay Debit Cards, Rivalling Visa, Mastercard

Published

3 years ago

on

India Approves Rs. 1,300 Crore Plan to Promote RuPay Debit Cards, Rivalling Visa, Mastercard

India approved the rupee on Wednesday. Rs 1,300 crore plans to promote domestic RuPay debit cards and low-value digital transactions to promote their use among marginalized groups. This move may challenge the influence of competitors such as Visa and Mastercard.

A government statement stated that under the plan, the government will pay banks within one year a certain percentage of the value of transactions completed through RuPay debit cards and low-value direct inter-bank transactions, which can be traced back to April 2021.

The plan may further threaten the domestic market share of competitors Visa and Mastercard. Earlier this year, Visa complained to the US government that India’s “informal and formal” promotion of RuPay had hurt it in one of its main growth markets. The plan will include reimbursement of digital transaction processing fees of up to Rs. 2,000 rupees, government officials said.

Advertisement

The government said: “It will also help provide accessible digital payment methods for unbanked and marginalized people”, referring to people outside the formal banking and financial system.

The Indian Payments Commission, an industry body, stated that the industry will “benefit a lot from this move.” As of November 2020, the bank has issued more than 600 million RuPay debit cards.

Deepak Chandnani, head of South Asia and the Middle East at Worldline, a payment and transaction services company, said the move will provide a major boost for RuPay.

“The end-to-end cost of each transaction by the acquiring bank is approximately 15 basis points for the processing and other costs of debit card transactions. This incentive will provide the acquiring bank with much-needed probation and encourage further figures Transaction,” Chandnani said.

Advertisement

RuPay was founded in 2012 by the government-backed non-profit organization National Payment Corporation of India (NPCI), competing with Visa and Mastercard in the fast-growing digital transaction market of Asia’s third largest economy.

Finance Minister Nirmala Sitharaman has publicly asked banks to promote RuPay cards to facilitate digital transactions in the country.

Mastercard and Visa see India as a key growth market, but were shocked by the 2018 Central Bank directive, which required them to store payment data “in India only” in order to achieve “unrestricted regulatory access.”

After discovering that the U.S. payment giant did not fully comply with data localization rules, banks are currently prohibited from issuing MasterCard-branded cards to new customers.

Advertisement

Complete News Source : Gadgets360

Related Topics:
Continue Reading

YouTube

YouTube marks 20th anniversary by launching new useful features What’s new

Published

4 days ago

on

April 24, 2025

By

YouTube marks 20th anniversary by launching new useful features What’s new

YouTube has celebrated its 20th anniversary with several new features, including functional upgrades and new features for YouTube TV. The platform has introduced personalised radio stations via Ask Music, which is available to YouTube Premium and YouTube Music users on both iOS and Android devices. Additionally, YouTube is rolling out the ability to fast-forward.

YouTube TV members will gain the ability to build their own multiview experiences, starting with a selection of non-sports content from a small group of popular channels. The platform is introducing improved navigation, better playback quality, and easier access to features such as comments, channel information, and more through videos at 4x speed, providing more.

Advertisement
  1. Delete Unnecessary Emails: Regularly clearing unwanted emails helps maintain storage. Open Gmail in your browser or mobile device, go to your Inbox, Social, or Spam folder, filter messages, select emails to delete or check the box to select all emails in the folder, and click the “Delete” button. The emails will be moved to the Trash folder Empty Your Spam and Trash Folders: If deleted emails remain in your Trash.
  2. Unsubscribe from Unwanted Emails: Open a promotional email and click “Unsubscribe” at the bottom of the email to reduce future accumulation April 2025 — YouTube, the world’s largest video-sharing platform, is celebrating its 20th anniversary with the launch of several innovative features aimed at enhancing user experience, empowering creators, and embracing the future of digital content.

  3. 1. AI-Powered Video Summaries
    One of the most anticipated features is AI-generated video summaries, which will now appear below eligible videos. This allows viewers to preview content quickly and decide whether to watch the full video. The summaries are automatically created using advanced natural language processing and are designed to boost discoverability and engagement.

  4. 2. “Jump Ahead” Smart Chapters
    YouTube is introducing smart chapters with “Jump Ahead” capabilities, allowing viewers to skip to the most engaging parts of videos based on audience retention data. The feature leverages machine learning to identify sections that retain viewers the most and gives users a prompt to “Jump Ahead” with a single tap.

  5. 3. Creator Insights Dashboard Upgrade
    For content creators, YouTube has upgraded its Creator Studio Dashboard with enhanced real-time analytics, audience mood tracking, and AI-suggested titles and tags. The platform’s algorithms now offer dynamic suggestions for improving performance, personalized for each creator’s channel and content style.

  6. 4. YouTube Create App Expansion
    Following positive feedback from beta users, YouTube is officially rolling out the YouTube Create app in over 30 new countries. This free mobile video editing tool includes features like auto-captions, royalty-free music, filters, and multi-clip editing — giving creators more control without the need for expensive software.

  7. 5. Enhanced Live Shopping Tools
    With e-commerce booming, YouTube is expanding its Live Shopping tools, allowing creators to tag mini-social network within the platform. These tools are products, integrate affiliate links, and host shoppable livestreams with real-time viewer interaction. The new update supports multi-vendor support, making collaborations with brands smoother and more profitable.

  8. 6. Smart TV Upgrades
    YouTube is giving its TV interface a refresh, introducing a sleeker design with quicker access to playlists, subscriptions, and smart recommendations. A new “Ambient Mode interactive content suggestions and previews when the app is idle, turning the TV into a dynamic home hub for entertainment.

  9. 7. Community Tab Enhancements
    To improve engagement, YouTube is enhancing its Community Tab with interactive stickers, polls, countdowns, and quizzes — turning it into a mini-social network within the platform. These tools are aimed at helping creators keep their audience involved even between video uploads.
  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

Continue Reading
Anyskill-ads

Facebook

Trending

en Englishhi हिन्दी
en English