RuPay set to expand credit card business in India, take it to masses

Introduced 9 yrs ago, the indigenous card payment network has cornered a sizeable market share, thanks to govt push

Introduced nine years ago, India’s indigenous card payment network, RuPay, has cornered a sizeable market share, driven by the government’s financial inclusion drive.
 
Accounts opened under the Jan Dhan scheme get the RuPay debit cards, but credit cards, considered a niche product in India, form a minuscule portion of its card business.
 
As of March 10, around 308.5 million RuPay debit cards were issued for accounts opened under the Jan Dhan Yojana.
 
Having said that, the National Payments Corporation of India (NPCI), the umbrella entity for digital payments in the country and which operates RuPay, is looking