Choosing the ideal payment network for your debit or credit card after understanding the difference between VISA and RuPay is essential. While both of these payment networks allow you to make and receive all kinds of transactions, they are quite different.
They differ in various aspects, like acceptance, transaction speed, safety, withdrawal limitation and more. Opting for the right payment network for your card is extremely important since it can affect your usage.
Read on to learn all about RuPay vs VISA and make the right choice.
Similar to RuPay, VISA is a payment network that allows payments internationally. Various types of cards using the VISA network for payment processing are called VISA cards. VISA initially started with credit cards, then expanded to prepaid, debit and gift cards.
VISA cards allow you to enjoy these benefits:
Created by the National Payments Corporation of India, RuPay is a payment service system launched in 2014. It is broadly operational in India as of now. Credit cards, debit cards and other types of cards that utilise the RuPay payment network are known as RuPay cards.
Here are some pros you can benefit from when you choose such cards:
Check this table to know how cards with these payment networks differ:
| Difference Between VISA and RuPay | ||
| Basis of Difference | RuPay Card | VISA Card |
| Card Types | Debit and credit cards, prepaid and gift cards | Debit, credit, prepaid and gift cards |
| Year of Launch | 2014 | 1958 |
| Speed of Transaction | RuPay processes transactions quickly | VISA processes transactions comparatively slower |
| Processing Fee | The processing charges are comparatively cheaper since they operate domestically | The processing charges are comparatively higher because of overseas processing |
| Acceptance | RuPay cards are accepted by limited countries outside India, such as Singapore, Bhutan and UAE | VISA cards are accepted in India as well as in most other countries |
| Fee Structure | RuPay cards do not have any entry or quarterly charges for financial institutions | VISA cards come with quarterly and initiation fees for banks and other financial institutions |
| Withdrawal Limitation | Withdrawals allowed in India; RuPay Global cards allow withdrawal overseas | Withdrawals allowed in India and abroad |
Selecting the ideal payment network option is all about figuring out how and where you intend to use the cards. If you’re getting a card to use it primarily in India, then RuPay might be the right choice. If you’re a frequent traveller to foreign countries, then it may be feasible to choose VISA as it’s acceptable in various countries, including India.
The best option after you understand the difference between VISA and RuPay is to have cards from both networks in your wallet. This helps you access the advantages of both. A RuPay card that can empower you every step of the way is the Fibe Axis Bank Credit Card.
With this card, you get numerous benefits, like up to 3% cashback on every transaction, up to 4 visits to domestic airport lounges annually, UPI payment facility and much more. It’s easy on your pockets as it comes with zero joining and annual renewal charges! Install the Fibe app or log in to our website to apply for the card hassle-free.
You don’t need to worry about the safety of your finances while transacting through RuPay and VISA cards, as both offer top-notch security.
You can enjoy the following benefits with a RuPay card:
Since they’re domestic cards, general RuPay cards are only available for transactions in India. However, with the international card by RuPay, you get the flexibility of carrying out transactions internationally at:
