Rupay Forex Cards approved by RBI!
Rupay Credit, Debit, and Prepaid Forex Cards will soon be launched for International usage in online and offline mediums.
You may soon be able to use Rupay Cards Internationally. Indian banks and foreign card merchants have agreed to a bilateral agreement. It's just like the co-branded credit cards in India.
The Reserve Bank of India has accepted the appeal of Indian banks for Rupay Prepaid Forex Cards. Thus soon you will be able to use Rupay Cards at ATMs, PoS machines and online merchants across the globe.
RBI has got approval for Rupay credit, debit, and prepaid cards. Moreover, you can also apply for all these Rupay Cards from outside India. The RBI Governor said:
“RuPay Debit and Credit cards issued by banks in India have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes. In order to expand payment options for Indians traveling abroad, it has been decided to allow issuance of RuPay Prepaid Forex cards by banks in India for use at ATMs, PoS machines and online merchants overseas. Further, RuPay Debit, Credit, and Prepaid Cards will be enabled for issuance”
Rupay Cards will not need any co-branding for use in Bhutan, Singapore, Nepal, and UAE so your current Rupay Card can be used in these countries. If you are planning to get one then checkout these fine Rupay Offers.
RBI also announced that non-bank Prepaid Payment Instruments can issue e-RUPI vouchers. They are also allowed for individual issuance. As per RBI's Payments Vision Document 2025, you may also see UPI’s International acceptance soon.