Rupay Debit Card: Benefits, Documents Required and How to Apply

The National Payments Corporation of India (NPCI), an RBI-backed channel for all retail payment systems,  introduced RuPay (derived from ‘Rupee’ and ‘Payment’) in 2012, a domestic card payment network. RuPay cards are touted as a strong competitor for MasterCard and VISA cards in India. Since RuPay is a domestic gateway, it can easily offer low transaction charges to Indian cardholders. India’s Government encourages using RuPay debit cards and credit cards for transactions. The government has also collaborated with national and international banks to issue these cards. 

Read on to know more about RuPay debit cards!

What is a RuPay Debit Card?

The RuPay debit card is a financial tool that you could use for daily transactions. You can visit a bank where you have an account and ask the officials to issue a RuPay debit card. Of course, there are eligibility parameters that you have to meet to get a RuPay debit card – more on this later.

This card is linked to your bank account, just like VISA or MasterCard-powered debit cards. You can use a RuPay debit card for the following purposes:

• Online purchases/transactions
• Withdraw cash from ATMs
• Make purchases through a point of sale system

How Does a RuPay Debit Card Work?

A RuPay debit card enables cardholders to make payments to merchants when they buy any goods or avail of any service from the merchant. RuPay debit cards work just like any other debit card that you may hold. 

These cards come with advanced technology-powered EMV chips that are designed for high-end and quick transactions. The cards also contain an embedded microprocessor circuit that holds the cardholder’s information. If you are a RuPay card holder, you can use this card across the various ATMs and point of sale terminals in India. Furthermore, it is accepted on major e-commerce websites like Amazon and Flipkart. 

RuPay Debit Card Vs Visa Debit Card: Key Differences

Here are a few differences between a RuPay debit card and a VISA debit card:

Also Read: What Is The Difference Between Credit Card And Debit Card?

What Are the Different Types of RuPay Debit Cards? 

Here are the different types of RuPay debit cards:

1. RuPay Platinum Debit Card 

The platinum card offers an array of hand-picked privileges to its users. It is carefully designed to provide exclusive benefits for the convenience of its users. The various benefits that the RuPay Platinum debit card offers are as follows:

• Gives access to 20+ domestic lounges two times every calendar quarter 
• Individuals making utility bill payments with this card will receive a 5% cashback
• One can get personal accident insurance and permanent disability cover of Rs.2 lakh
• Provides exclusive Swiggy and Amazon Pay offers all year round

2. RuPay Classic Debit Card 

This is an all-purpose card which eliminates the hassle of carrying cash. Moreover, it is extremely suitable for both online and offline purchases. Some of its benefits are as follows:

• Accident and insurance cover of up to Rs.1 lakh 
• Exclusive offers all year round on buying a product from domestic merchants 

3. RuPay Select Debit Card 

RuPay Select is an exclusive debit card designed for transactions with top-tier merchants. With this card, individuals can get access to sought-after gyms and wellness centres. The benefits of this card include:

• Access to over 20 premium golf courses with one complimentary golf game or lesson each year
• Complimentary 15 days of free access to fitness programs at gyms
• 1 complimentary spa treatment every year at 100+ wellness centres in the country
• Individuals will get comprehensive insurance coverage of up to Rs 10 lakh 
• Exclusive access to the lounge and 24/7 concierge service while travelling

4. RuPay PMJDY Debit Card

The RuPay PMJDY (Pradhan Mantri Jan-Dhan Yojana) card is issued to individuals who have opened accounts under the Pradhan Mantri Jan Dhan Yojana (PMDJY) – a National Mission for Financial Inclusion scheme that aims to encourage inclusivity and accessibility in the financial services sector. Key benefits include:

• Can be used at all ATMs, POS terminals and e-commerce websites
• Comes with Personal Accidental death and total disability coverage of up to Rs.2 lakh
• Enjoy exclusive merchant offers with this card

5. RuPay Mudra Debit Card

As part of the Pradhan Mantri Mudra Yojana (PMMY) scheme, all beneficiaries of Mudra Loans are eligible to avail of the RuPay Mudra Debit Card. The Pradhan Mantri Mudra Yojana Scheme aims to offer a working capital facility as a cash credit arrangement to the account holder. Some of the benefits of this card include:

• Exclusive merchant offers
• Multiple withdrawals
• Manage working capital limit efficiently

6. RuPay PunGrain Debit Card

This RuPay debit card is issued to Arthiyas who have an account under the PunGrain scheme. Arhtiyas are middlemen who facilitate the transaction between farmers and the actual buyers. Some of the benefits of this card include:

• Can be used at all ATMs, POS terminals and e-commerce websites
• Helps avail of automated grain procurement facilities at the PunGrain mandis
• Exclusive merchant offers

Also Read: RuPay vs Visa: Know The Difference And Which One To Choose

What are the Benefits of a RuPay Debit Card?

One of the major advantages of RuPay debit cards is that the processing fee is affordable as the transaction processing happens domestically. As a result, it leads to a lower cost of settlement and clearing for every transaction. Here are some of the important benefits of a RuPay debit card:

• It helps financial institutions design personalised products and service offerings for their clients.
• Since it is a domestic payment gateway, the information of the cardholder remains within the country.
• Individuals can use RuPay cards at all ATMs in the country.
• Specific RuPay card holders are eligible for accidental death and permanent disability cover.
• It has a greater reach in rural areas of India. Hence, if individuals are travelling throughout the rural parts of India, they will have access to cash if required.
• RuPay debit cards could be used for international transactions as well.

RuPay Debit Card Eligibility Criteria

Documents Required for RuPay Debit Card

The following are the documents required for processing a RuPay debit card application

• One colour photograph (passport size).
• Address proof
• Photo ID proof 
• Signature of the applicant as a mark of consent

List of Banks that Issue RuPay Debit Cards

Here is the list of banks that issue RuPay debit cards:

How to Apply for a RuPay Debit Card?

Follow these steps to apply for a RuPay Debit Card:

Step 1: Visit your nearest bank branch and meet the representative

Step 2: Fill out the RuPay Debit Card application form

Step 3: Provide all your KYC documents

Step 4: Bank will verify the details

Once verified, you will get your Rupay debit card within 2 to 3 working days

On the other hand, if you want to apply online for a RuPay debit card, you need to visit the bank’s official website and check if the bank offers RuPay debit cards. Then, if the bank is issuing RuPay debit cards, apply on the bank’s website. Once you complete the application procedure, the bank’s representative will contact you to complete the necessary steps.

How to Start Using RuPay Debit Cards?

RuPay card can be used at any of the following channels:

ATM – To withdraw funds

• Insert your RuPay Card in the slot provided for the ATM machine.
• Select language (if language option is available)
• Please enter your PIN (Please note that if you enter the wrong PIN thrice, your card will be blocked for rest of the day)
• Select the transaction that needs to be performed (cash withdrawal, PIN change/ Balance inquiry, etc.)
• Insert the amount for cash withdrawal if you wish to withdraw cash
• Collect cash dispensed, Receipt, and Car

POS – Grocery and Fuel station

• Present your card to the merchant once you have selected goods for purchase.
• The merchant will insert the card into the POS Terminal.
• The terminal will prompt you to enter the PIN.
• Please enter your PIN after checking the amount of the transaction on the POS Terminal
• The transaction is now complete – collect a copy of the charge slip and your card from the merchant.

E-commerce – Prepaid Recharge and Railway booking (IRCTC)

• Go to your preferred website
• Please select goods or services and or prepaid recharge and go to the payment page
• Enter the 16-digit Card Number number and the card’s expiry date that are both mentioned on your card.
• You also need to enter your CVV number mentioned at the back of the card
• Enter the OTP (One Time Password) received by you on your registered mobile number
• You receive a message for a successful transaction mentioning the transaction amount

Final Word

RuPay is performing well in the increasing plastic money market, which the international payment services have dominated. It caters to the needs and requirements of the Indian population. A RuPay debit card allows individuals to withdraw money and use it for merchant payments anywhere across the country. Some banks that issue the RuPay debit card are Punjab National Bank, IDBI Bank, Federal Bank, HDFC Bank, etc. 

FAQs on Rupay Debit Cards

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This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.