Master card vs. visa card vs. Rupay card which is Best 2018: Whenever we open a bank account, bank issue debit cards which are of three type’s master card, visa and Rupay card why bank has issued debit card and in which case you can use visa, master or Rupay card and what is the difference between master card, visa card and Rupey card,to get your answer read the below article.What is MasterCard, Rupay and visa debit card 2018? . Different types of debit card in India 2018
Why bank issue debit cards: before talking about the difference between 3 cards we have to know why bank has issued the debit cards. We have opened bank account to save some money many and almost all the people want to save money for their living. But before debit card ,if you want to deposit or withdraw money then you have to visit your bank , fill cash deposit form and you have to stand in line for further processing and then you will receive your money similarly in case of deposit also you have to stand in line to deposit money in your bank account.
Many people go to bank to deposit and withdraw money from the bank and slowly-slowly the number of people increases and people make line and they think that to withdraw their own money they have to make line and the then bank has design a new concept of ATM card bank placed the different ATM machines at different location by which people can withdraw their money from ATM only all bank has its own ATM machines and you can withdraw your money from any ATM but if the ATM is of other bank then it is not possible to withdraw money (but now it is possible with some transaction charges) with same bank ATM you can go to ATM machines swipe the card and you will receive cash instantly, but when you want to shop ,then you have to go to ATM machine withdraw cash and pay to shopkeeper for your purchase, shopkeeper again deposit that money to its own bank account so these process become lengthy and the new concept was designed debit card but their again issue that if you have SBI debit card and shopkeeper has HDFC debit card then it is not possible to transfer payment because transaction can take place between SBI to SBI and HDFC to HDFC it is happening in India but when we go outside India the problem will more so to solve these Problem two USA companies introduced in India which are below.
- VISA CARD
- MASTR CARD
The above both card are competitor of each other Visa and MasterCard tie-up with all bank servers and they ask the bank to issue debit card with visa and master card mono. Visa and master card taken access to all bank servers and ask the bank to issue the debit card with their logo by which it form a huge network between the cards and all data of cards is stored in one network. Visa and master card is accepted all over the world, in all payment gateways, ATM machines VISA and MASTER CARD is freely accepted.
How these all card works: Suppose we have done shopping and paying via swipe machine when we swipe our VISA or MASTER CARD then automatic request reach to VISA or MASTER CARD payment network as VISA and MASTERCARD is tie-up with all banks in India they can easily monitor your account balance if it contain balance then they automatically deduct the requested amount form your account and they keep as a record in lock form and they pay to the shopping merchant account who has swipe your card or completed online payment request so VISA and MASTER CARD is a mediator between your bank account and the bank to which you are paying the amount but the big issue is that both mediator are outside from India i.e. USA and they charge more fees on every transaction (1to 2 %) transaction fees is 1 to 2% is a processing fee they deduct amount from your bank account instantly but reach to the merchant after 2 to 3 days because all processing time takes 2 to 3 days.
To verify every transaction the bank has to contact and send all the details to visa and master card mediator which are located outside India if we are doing transaction in India only then why should we follow the payment mediator which are located outside India for that India has launched a new payment gateway national payment corporation of India (NPCI) monitor all the bank transaction in India so they generated Rupay card and all the transaction which are going outside India now all these transaction can be done within India and monitor by NPCI also they take less transaction fee so the Indian government started to promote Rupay card and ordered all bank to issue only Rupay card to new account holders and if customer demand for visa or master card then only they should provide visa or master card to customer and now Rupay has become the competitor of visa and master card and due to less response towards visa and master card they started advertisement and promoting visa and master card in India also Rupay is 100% accepted in India only but outside India when you are using Rupay card it is not accessible but visa and master card is accessible outside India also for these Rupay platinum has to use which has many terms and condition and is also not issued by all the banks in India.
Advantages of Rupay card over visa and master card (Rupee payment)
Rupay card is issue feely and for visa and master card we have to pay some fees ,transaction fees is less ,all the data processing take place within India, it also offers cash back offers, different schemes, helpful in making digital India schemes ‘ Different types of debit card in India’
Disadvantages of Rupay
Big disadvantage is that not accepted outside India, outside India you have to use visa and master card which is accepted all over the world.
But remember one thing all these 3 cards are not useful if your bank account not contain account balance. “The truth behind the MasterCard Master card vs. visa card vs. Rupay card which is best”