debit card

debit card

debit card


In INDIA If you ever applied for debit card so the bank could give you three types of card RuPay Card, VISA, and Master Card and do you ever ask to the bank what is the difference between these three cards.

Why we need debit cards 

When the bank starts people deposit their money in the bank and when they need to withdraw their money they need to visit the bank and cash their money but when bank customer base increased then people were facing a lot of problems to withdraw their money at that time the bank starts ATM card system but it wasn’t worked good because if you want to withdraw your money by ATM then you have to withdraw your money with same bank ATM you cannot get your money buy other bank ATM. 

Then bank design debits cards but here also a problem if you want to go shopping then you need to visit ATM and withdraw your money then I can do shopping it becomes a long process for people and in another country also facing the same problems as well.

So two companies take the advantage of this problem and the first company name is VISA and the second company name is the master card they both think if anyone wants to do shopping or anyone want to transfer their money they facing the problem and it was a long process so then they become payment networks companies and become competitors to each other.

They created payment Network Company and they both tied-up with all bank in the world they get access in all bank and they sign the contract that they will provide the card no on every card and bank just mention payment network company logo on a card like VISA OR Master Card. now If you pay online in any country of the world visa and master the card is acceptable.

How it works

If you do any shopping and you use your debit card or credit card then automatically visa and master card company get the request for transfer, the money your account to shopkeeper account and they tie up with every bank and hence they know how many balance in your account because they had all access of every account if they feel your account has sufficient balance then they go to your account and debit the money and take it in their records and they transfer the money to where you using your card.

They both do the same process and they both are payment networks they are a mediator between your bank and who get the money with his bank now the problem is they both companies are from the US and they charge fees on every transaction.

 if you pay by your card then they will deduct money from your account on the spot and lock it in their records but they take two days to transfer money because they take two days for all the process, they will make all day transfers bunch and send to the bank and they take over all the money from the bank after that they cut their process fees then they transfer money.

They both companies charge fees on every transaction and they both are from the US. Then NPCI national payment corporation of India they monitor all transactions of India made RuPay card and tie up with all banks.

Now we don’t need to use VISA or Master card and no need to pay fees to any transaction because now India has his own server and which fees we are paying to them now we pay it to NPCI and the important part we pay fewer fees as compare to visa and master card.

Indian promote his RUPAY CARD because now the Indian money process in India we don’t need to pay any other country company and when repaying card launched then VISA and Master card get the competition and they both visa and master card start ads for their companies visa campaigning for using their companies.

RuPay card visa or master card all these payment transferring way by so many mediums like swipes or online net banking or direct payment and you can withdraw your money from ATM in cash.

RuPay card lunch by Indian government and they forcing every bank to issue any debit card in RuPay card because it saves money and if you demand visa or master card then bank issue it for you.