RuPay cards are expanding footprint but domestic performance remains muted

RuPay transaction volumes rose marginally during the pandemic, value rose 40 per cent

RuPay may find acceptance in yet another country, as India concluded its tenth session of the India-Oman Joint Commission Meeting (JCM) with the proposal to include RuPay in the gulf country’s card networks. While RuPay has been expanding to other jurisdictions, the National Payments Corporation of India has also made tie-ups with Discover and Diner services to widen the card’s acceptability.

A Business Standard analysis found that on the domestic front, RuPay's performance has been muted. RuPay cards’ transaction volumes increased just 2.4 per cent between 2019-20 and 2021-22. This includes both point of sale transactions and e-commerce transactions. While