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RuPay cards facing discrimination by banks, Reveals IIT-Bombay study

Shortpedia

Content Team
Image Credit: shortpedia

After revoking merchant charges on digital payments, Rupay debit cards seem to have lost the popularity as banks are choosing Visa and MasterCard for not charging any restriction fees. An IIT-Bombay study has revealed that India’s card payment RuPay is facing differential treatment in the pricing structure. According to a report, the banks choose to issue Visa and MasterCard more than RuPay cards because they lose money on transactions.