Question

Which of the following statements accurately describe RuPay?

1. RuPay is a payment network developed outside of India to compete with international card companies.
2. The name 'RuPay' is derived from 'Rupee' and 'Payment', highlighting its Indian origin.
3. RuPay is primarily used only for online transactions within India.
4. It was launched by the Reserve Bank of India as part of an initiative to promote digital payments and a less cash economy.

• A. 2
• B. 4 മാത്രം
• C. 2, 4
• D. 2 മാത്രം

Answer 1

Answer:

C. 2, 4

RuPay is India's domestic card payment network, a collaborative effort by the National Payments Corporation of India (NPCI). Its creation was driven by the Reserve Bank of India's vision to establish a local alternative to international card schemes, thereby reducing dependency on foreign networks and promoting financial inclusion. The network is designed with robust security features and is accepted widely across various platforms, including ATMs, POS terminals, and e-commerce websites, supporting the transition towards a digital and less-cash society.