RBI will show its five digital products to the world in the meeting of G-20 top leaders to be held at Bharat Mandapam in New Delhi on 9th and 10th September. This will also include RuPay Card. Please tell that there will be no need to keep the RuPay on Go card. You will be able to keep this card in digital form also and all types of payments can also be made through it.
India’s RuPay card will compete with foreign MasterCard and Visa globally. RBI has made complete preparations for this. RBI will showcase its five digital products to the world in the meeting of G-20 top leaders to be held at Bharat Mandapam in New Delhi on September 9 and 10.
These include UPI One World, Frictionless Credit Platform, Central Bank Digital Currency, RuPay on the Go and Bharat Bill Payment System. All these products have the power to take over the world and this is also the intention of RBI.
RuPay Card charges much less than Mastercard
Highly placed sources said that at present, consumers around the world mainly use Mastercard or Visa for credit cards or debit cards. The charges for using these cards are also high. The charges for using the RuPay On Go card will also be much lower as compared to Mastercard and Visa and will also have additional technical features.
According to sources, there will be no need to keep the RuPay on Go card. This card can also be kept in digital form and all types of payments can also be made through it.
Many countries showed interest in UPI payment system
According to highly placed sources, several countries in Latin America and Africa are in touch with India for RuPay on Go and UPI payment facilities. Due to the introduction of RuPay cards globally, there will be no need for dollars for payments abroad and payments for exports can also be made.
The pilot project of frictionless credit has been running in many states of the country since last year, under which the loan amount is credited to the customer’s account in a few minutes. Currently farmers and dairy entrepreneurs are taking advantage of this.
According to RBI sources, soon MSME and personal loans will also be given through frictionless credit platform. Later this method can be adopted for all types of loans. Many big and small countries have already expressed their interest regarding India’s UPI payment system.
The RBI’s display will also showcase the Bharat Bill Payment System through which Indians living abroad will be able to pay their bills in India without using any account. India aims to showcase its digital innovation to all countries and inspire them to adopt it.