RuPay: Will it Disrupt the Domination of Visa and Mastercard in the Mainstream Digital Payments Ecosystem?
| Case Code: ECON099 Case Length: 11 Pages Period: 2012-2021 Pub Date: 2022 Teaching Note: Available |
Price: Rs.300 Organization : National Payments Corporation of India (NPCI) Industry : Financial Services Countries : India Themes: Government & Economy, Banks and Banking,Digital Strategy,Government Policies |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On November 28, 2021, Reuters reported, “Visa has raised concerns with the US Trade Representative (USTR) about India favouring the domestic payments card provider RuPay, three years after Mastercard did so privately in 2018.” A P Hota (Hota), former CEO of the National Payments Corporation of India (NPCI), was of the view that this was a non-issue and Visa and MasterCard had abundant opportunity to retain their share in a market as big as India. “They need not get scared. They should focus on what India needs and review their products wherever necessary instead of complaining about the success of RuPay. Let there be no debate on this non-issue,” Hota added..
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