You are here: Home » Current Affairs » News » National
Business Standard

PM Modi launches RuPay card in Abu Dhabi, to help Indian tourists

India has already launched the RuPay card in Singapore and Bhutan

RuPay cards | Narendra Modi | UAE

Press Trust of India  |  Abu Dhabi 

Representative Image

Prime Minister on Saturday launched the RuPay card here, making the the first country in the Middle East to initiate the Indian indigenous system of electronic payment.

RuPay card scheme was launched in 2012 to fulfil the Reserve Bank of India's vision to have a domestic, open and multilateral system of payments. RuPay facilitates electronic payment at all Indian banks and financial institutions.

India has already launched the RuPay card in Singapore and Bhutan.

Modi launched the RuPay card by making a special purchase which he will offer as 'prasad' at the Shreenathji Temple in Bahrain tomorrow.

"The RuPay card comes to UAE! PM @narendramodi makes a special purchase, which he would offer as Prasad at the Shreenathji Temple in Bahrain tomorrow," the Prime Minister's Office (PMO) tweeted.

Before the launch, an MoU to establish a technology interface between the payment platforms in India and was exchanged between the Payments Corporation of India (NPCI) and UAE's Mercury Payments Services in the presence of the prime minister.

As many as 21 major business groups -- including Lulu, Petrochem Middle East, NMC Healthcare and Landmark -- in the have pledged to accept RuPay as a mode of payment.

They stated that the initiative will go a long way in bringing India and the UAE businesses together.

The UAE receives about three million Indian tourists annually. Acceptance of Rupay card in UAE will lower the charges as tourists will save on exchange rate.

The NPCI in association with the Mercury Payments Services, has made acceptable at 1,75,000 merchant locations and 5,000 ATM and cash access locations within the UAE.

RuPay is a highly secure network that protects against cyberhacks and is India's version of Master Card and Visa.

Today, there are close to 500 million in circulation in India.

RuPay has also tied-up with international players like Discover, Japan Credit Bureau and China Union Pay to enhance its international acceptance and recently achieved a milestone of issuing 25 million

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, August 24 2019. 15:40 IST