New Delhi: The RuPay card is officially launched in the UAE on August 24th, 2019 at the Emirates Palace, Abu Dhabi in presence of Prime Minister Narendra Modi.
UAE become the first country in the Gulf where Indian RuPay card has been launched.
Around 21 Business Groups from the UAE; NMC Healthcare, Lulu Group, Aster DM Healthcare, Landmark Group, Sobha Ltd, Apparel Group, Nikai Group, Regal Group of Companies, ITL Cosmos, Jashanmal National Company LLC, Allana Group FMCG Products, Petrochem Middle East, Transworld Group, Al Dobowi Group, VPS Healthcare, UPL Group, Conares, Al Maya Group, EPS Facilities Services Group, Emaar & DP World; were present during the event and pledged to accept RuPay as a mode of payment and stated that the initiative will go a long way in bringing India and UAE businesses together.
PM Modi swiped his Rupay card for buying 1 kg of Indian sweets (laddoos).
The Business Community also welcomed this step. UAE receives close to 3 million Indian tourists annually. Acceptance of Rupay card in UAE will lower the charges as tourists will save on the exchange rate.
National Payment Corporation of India (NPCI) is an association with Mercury Payments Services - UAE’s Domestic Scheme has made RuPay Cards acceptable at 175,000 merchant acceptance locations and 5,000 ATM and cash access locations within UAE.
RuPay is first-of-its-kind India’s domestic Debit and Credit Card payment network, with wide acceptance at ATMs, POS devices and e-commerce websites across India. It is a highly secure network that protects against cyber hacks and is India’s version of Master Card and Visa.
It has been developed to offer secure, user-friendly and cost-effective solutions to facilitate low-value payments and build a cashless transaction environment. Today, there are close to 500 million RuPay cards in circulation in India. RuPay has also tied-up with international players like Discover, Japan Credit Bureau and China Union Pay to enhance its international acceptance and recently achieved a milestone of issuing 25 million RuPay – Discover global cards.
NPCI, which manages the RuPay card network in the country issues RuPay Global cards that run on the Discover Network when used outside India.
The acceptance of RuPay Global cards with the partnership of Discover has reached over 44 million-plus merchants & 2 million ATM and cash access locations, across 190 countries and is constantly growing.
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