Why Indians are pitching for Rupay cards after Visa and Mastercard suspend operation in Russia

By Team Tech Outlook Published on March 6, 2022, 15:22 IST

Visa and Mastercard have suspended their operations in Russia. This decision came after the west has imposed sanctions on Russia for creating a war in Ukraine. Many Indians have now come out and started to praise the effort of the Indian government for creating an indigenous payment system.

The Indian government also faced backlash from the west when Visa approached the congress of the USA. VISA said that India shouldn’t start their own indigenous network of card systems. VISA also said that Indian government was giving more priority to their Indigenous system called Rupay cards.

Here is why Indians are pitching for Rupay cards in Russia :

Indians have started trending on social media that how the sanctions of west stopping operations in Russia. This has triggered an online debate of whether countries’ dependency on western products is good or not. As many countries are backing out of Russia at the moment. The financial sector has also taken a hit in Russia.

A user has posted US payments firms Visa and Mastercard are suspending their operations in Russia India has built its own system. RuPay alternative to Visa & Mastercard. BHIM UPI alternative to Gpay, Apple pay. RuPay has 60% market share in India It’s an opportunity for RuPay to enter Russia.

US payments firms Visa and Mastercard are suspending their operations in Russia

India has built its own system. RuPay alternative to Visa & Mastercard. BHIM UPI alternative to Gpay, Apple pay.

RuPay has 60% market share in India

It's an opportunity for RuPay to enter in Russia

— Anshul Saxena (@AskAnshul) March 6, 2022