adsense

Showing posts with label Mastercard. Show all posts
Showing posts with label Mastercard. Show all posts

Wednesday, March 7, 2012

Discover Cards and Diner Club International Cards part of India's RuPay Network.




Today, i.e March 07, 2012 a new chapter in the Indian Payments has begun.

A strategic alliance between Discover Financial Services (DFS) and National Payments Corporation of India (NPCI), has been announced.

The top 11 points about this strategic alliance.

  1. At present Diners Club International (DCI) cards are accepted at CitiBank ATM's.

  1. Discover cards and Diners Club International (DCI) cards will be accepted at NPCI ATMs and point-of-sale terminals for purchases in India.

  1. RuPay (the national card payment network in India) cardholders will be able to utilize the Discover, Diners Club International and PULSE networks for international purchases and cash access outside of India.

  1. The companies are also working to implement D-PAS, Discover’s EMV technology, to offer chip-based cards to RuPay cardmembers.

  1. The arrangement will be implemented in 3 phases. Phase 1) DFS and DCI cards will be accepted at RuPay ATMs in India. Phase 02 ) DFS and DCI cards will be accepted at RuPay POS locations. Phase 03) Acceptance of RuPay Global Cards on Discover’s global payment network outside of India.

  1. The final aim of the network-to-network alliance between DFS and NPCI is the issuance of RuPay Global cards, once the domestic RuPay cards being launched later this month stabilize.

  1. Discover, like American Express Co. (AXP), typically issues its own credit cards and operates a payments network that processes transactions.

  1. Visa and MasterCard, only process transactions. The higher transaction volume helps boost their revenue.

  1. Discover has a smaller acceptance footprint internationally than does American Express, Visa and MasterCard, though it has been working to change that.

  1. At present there are 120 million+ DFS and Diners Club cards worldwide and these card holders can enjoy the wide reach of RuPay network in India, of over 90,000 ATM's.

  1. In the near future, DFS and DCI cards would also be accepted at over six lakh POS terminals that are linked to the NFS.


LinkWithin

Related Posts with Thumbnails

Disclaimer

The thoughts in this BLOG are personal, and reflect only my view on the subject.
This are not the views of my Employers.
All images, logos rights rest with the Original TitleHolders

All efforts have been made to make this information as accurate as possible, N Prashant will not be responsible for any loss to any person caused by inaccuracy in the information available on this Website. Relevent Official Gazettes Communications may be consulted for an accurate information. Any discrepancy found may be brought to the notice of N Prashant