BusinessMastercard, Visa Losing Out To RuPay, UPI In India: Arun Jaitley
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Mastercard, Visa Losing Out To RuPay, UPI In India: Arun Jaitley
RuPay accounts for more than half of India's 1 billion cards
Arun Jaitley said RuPay's total transactions had leapt to Rs. 8,430 crore
Total transactions done using UPI had jumped to Rs. 59,800 crore
Arun Jaitley spoke about surging growth of RuPay and UPI, on the second anniversary of notes ban.
Finance minister Arun Jaitley said on Thursday that Mastercard and Visa were losing market share to domestic payments networks, months after Mastercard complained to the US government that Prime Minister Narendra Modi was using nationalism to promote a local rival. He spoke about the surging growth of RuPay and Unified Payment Interface (UPI), which allows swift inter-bank fund transfers, on the second anniversary of PM Modi's shock ...