RuPay-JCB Card now accepted in total 23 European countries

Whats the benefit of it?

Does it mean indian govt. earns from the MDR?

InvestPotato wrote:

Whats the benefit of it?

Does it mean indian govt. earns from the MDR?

Support for local / Indian companies.

Less money to foreign cos, so less money goes out as royalties, so rupee get stronger theorotically.

InvestPotato wrote:

Whats the benefit of it?

Does it mean indian govt. earns from the MDR?

Benefit – No need to depend on visa/mastercard for international transaction.

I think no MDR earns on JCB network but JCB give access to use your RuPay card on international ATMs, POS and international websites.

RuPay & JCB both parties entered into a strategic partnership, JCB card’s acceptance coverage in India reach to 100% for card merchants and ATMs, which will better serve the increasing number of people visiting India especially from Asia where JCB has a large card member base. Meanwhile, the door for international acceptance for RuPay brand will be wider open with the partnership with JCB.

RuPay & JCB strategic partnership would be marked as a key milestone in the Asian payment ecosystem. It will be a win-win situation for both nations of Asia to exchange and achieve card payment dynamism with a view to enhance the acceptance of RuPay cards at JCBI’s network & vice-versa.

JCB now extend European roll-out, POS merchant & online E-commerce transactions.
so, now RuPay-JCB Cards will accept more places in European countries & online websites.

Note – In India, 90% of credit card transactions and almost 99% all debit cards transactions are domestic; however, the cost per transaction was low with RuPay card compared to foreign card schemes.

Most of the Indian card customer apply visa/mastercard for international transaction but they will use visa/mastercard only 1 or 2 times for foreign websites, rest of all transaction use within India. so, its better apply for RuPay-JCB Global Card for international transaction.

abhishek012 wrote:

Benefit – No need to depend on visa/mastercard for international transaction.

I think no MDR earns on JCB network but JCB give access to use your RuPay card on international ATMs, POS and international websites.

RuPay & JCB both parties entered into a strategic partnership, JCB card’s acceptance coverage in India reach to 100% for card merchants and ATMs, which will better serve the increasing number of people visiting India especially from Asia where JCB has a large card member base. Meanwhile, the door for international acceptance for RuPay brand will be wider open with the partnership with JCB.

RuPay & JCB strategic partnership would be marked as a key milestone in the Asian payment ecosystem. It will be a win-win situation for both nations of Asia to exchange and achieve card payment dynamism with a view to enhance the acceptance of RuPay cards at JCBI’s network & vice-versa.

JCB now extend European roll-out, POS merchant & online E-commerce transactions.
so, now RuPay-JCB Cards will accept more places in European countries & online websites.

Note – In India, 90% of credit card transactions and almost 99% all debit cards transactions are domestic; however, the cost per transaction was low with RuPay card compared to foreign card schemes.

Most of the Indian card customer apply visa/mastercard for international transaction but they will use visa/mastercard only 1 or 2 times for foreign websites, rest of all transaction use within India. so, its better apply for RuPay-JCB Global Card for international transaction.

How or where to get Rupay-JCB debit cards?

yolodime wrote:

How or where to get Rupay-JCB debit cards?

State Bank of India, Punjab National Bank, Axis Bank, Union Bank of India, Central Bank of India, Andhra Bank, City Union Bank, TJSB Bank, and many more banks issue RuPay-JCB Global Cards.

More details - https://www.desidime.com/deals/rupay-jcb-global...

Hypothetically speaking, If rupay gets wide spread acceptance like visa. does it mean we save on foreign currency while doing foreign transactions/international visit?

abhishek012 wrote:

State Bank of India, Punjab National Bank, Axis Bank, Union Bank of India, Central Bank of India, Andhra Bank, City Union Bank, TJSB Bank, and many more banks issue RuPay-JCB Global Cards.

More details - https://www.desidime.com/deals/rupay-jcb-global...

im currently using my UCO bank for daily UPI tarnsfer since there is no restriction like 20trsn oer month free.
but somewhere i read comment from dimer there is some chrges put by UCO bank if u do debit trns alot. do u have any idea abt that chrge
may be @drupal commented that

InvestPotato wrote:

Hypothetically speaking, If rupay gets wide spread acceptance like visa. does it mean we save on foreign currency while doing foreign transactions/international visit?

India can save foregein currency on the gateway charges plus India can earn foreign currency from charges earned from other country users….. This amount is huge……

I am mailing my banks to ask if they have the same cards I am using with RuPay as the issuer……

AyushiiiVijay wrote:

im currently using my UCO bank for daily UPI tarnsfer since there is no restriction like 20trsn oer month free.
but somewhere i read comment from dimer there is some chrges put by UCO bank if u do debit trns alot. do u have any idea abt that chrge
may be @drupal commented that

You will be shocked they will deduct charges after 6 months only fifty debit entries are free

InvestPotato wrote:

Hypothetically speaking, If rupay gets wide spread acceptance like visa. does it mean we save on foreign currency while doing foreign transactions/international visit?

Yes,

For example – RuPay card network now official launch in Bhutan (all ATMs and POS terminals in Bhutan now support RuPay card network).

The RMA (Bhutan’s central bank) maintains an account with the State Bank of India. Any withdrawal by a RuPay card holder in Bhutan would be settled through an instant credit into the RMA’s account. The arrangement is expected to benefit both countries by minimizing foreign currency outflow. Visa and MasterCard payments are settled in US dollars, while RuPay Card can be settled in rupees. The Bhutanese Ngultrum is fixed at a one-to-one exchange rate with the Indian rupee making settlement easy for both countries. In addition, Bhutanese banks will issue RuPay cards that will allow Bhutanese card holders to access the RuPay Card network in India or other countries.

drupal wrote:

You will be shocked they will deduct charges after 6 months only fifty debit entries are free

Lanka lag gyi yr…doing daily 2 upi trns for around 30-40 days .. I aksed the employees over there in bank… But they have no idea abt the chrges that u are talking abt..

What exactly are JCB and Viva Wallets?

billubakra wrote:

What exactly are JCB and Viva Wallets?

JCB Card – Japan Credit Bureau card (same like RuPay card in India)

Founded in 1961 as Japan Credit Bureau, As of 2020 its cards are issued to 140 million customers in 23 countries. JCB Card also operates a network of membership airport lounges for holders of their Platinum Cards issued outside Japan (JCB Card also accept in 195 countries).

India’s RuPay card and Japan’s JCB International Card have launched RuPay-JCB Global Cards, which can be used at all point of sales (POS) terminals which accept RuPay cards and terminals outside India which accept JCB Card.

I already mentioned – Those who dnt know RuPay-JCB card work on JCB acceptance International online websites outside India. wherever you see JCB Card logo, your RuPay-JCB card will accept – ATM, POS & Online International websites.

Visit here more details about RuPay-JCB Global cards and which banks in India issue RuPay-JCB Global cards - https://www.desidime.com/deals/rupay-jcb-global...

Now What is Viva Wallet ?

Official website – https://www.vivawalle...m/

Viva Wallet is the only payment provider that gives you the ability to earn back your acceptance fees to 0% on your card transactions!

Viva Wallet provides innovative acquiring and issuing services linked with local Viva IBAN Payment Accounts. Branches in the UK, Belgium, Romania, Greece and Cyprus. It is an entirely cloud-based licensed e-money institution for the provision of payment services in the 31 countries of the European Economic Area (EEA-31).

AyushiiiVijay wrote:

Lanka lag gyi yr…doing daily 2 upi trns for around 30-40 days .. I aksed the employees over there in bank… But they have no idea abt the chrges that u are talking abt..

Just close the account before they blow up your funds, close the account after making account Bal zero
Aur bhi bank Hain zamane mein uco ke siwa back in 2010 they deducted more than Rs.400 at once because my online shopping transactions through debit card exceeded 30 txn entries limit (at that time only 30 entries were free)
https://www.ucobank.com/pdf/Service-charge-G...df

drupal wrote:

Just close the account before they blow up your funds, close the account after making account Bal zero
Aur bhi bank Hain zamane mein uco ke siwa back in 2010 they deducted more than Rs.400 at once because my online shopping transactions through debit card exceeded 30 txn entries limit (at that time only 30 entries were free)
https://www.ucobank.com/pdf/Service-charge-G...df

sorry for bothering u again..if u can make it quick for me..that under which section/nature of charges i can find that charge?

drupal wrote:

Just close the account before they blow up your funds, close the account after making account Bal zero
Aur bhi bank Hain zamane mein uco ke siwa back in 2010 they deducted more than Rs.400 at once because my online shopping transactions through debit card exceeded 30 txn entries limit (at that time only 30 entries were free)
https://www.ucobank.com/pdf/Service-charge-G...df

tum kya hamesa past me jeete ho ?

10 years pahele approx saare banks debit card transaction k charges lete the.

Internet banking k bhi charges lete the, abhi toh sirf selected merchants pe Internet banking transaction k charges lete ha.

anyways debit card transaction charges saving account type pe bhi depend karta ha.

abhishek012 wrote:

tum kya hamesa past me jeete ho ?

10 years pahele approx saare banks debit card transaction k charges lete the.

Internet banking k bhi charges lete the, abhi toh sirf selected merchants pe Internet banking transaction k charges lete ha.

anyways debit card transaction charges saving account type pe bhi depend karta ha.

Us time par uco se katne ke ke baad I used axis and boi ,idbi and SBI no charges deducted,
I had not opened account in Baroda but chosen BOI after research, BOI did not debit for online tx debit , but for offline debit entries boi also deducts
UCO had mentioned that but I missed reading their charges and ended up paying hefty penalty
and all debit entries were charged including neft imps netbanking online payments and card payments , it seems now they changed their tnc and allowing online transactions
,
I never paid any charge to any bank for using debit card , this debit card transaction charge told by you is a new thing to me,

AyushiiiVijay wrote:

sorry for bothering u again..if u can make it quick for me..that under which section/nature of charges i can find that charge?

Search debit entries in PDF file you will know
It seems now they don’t count online transactions