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October 1st AnyOne Asked for card network changes?

That means , the Bank / issuer should not issue all their credit cards only on ONE Network...It should be atleast on TWO networks..

Example..
Assume, HDF* is issuing 10 cards like , MB, Milli* Regali*.....etc..
All these cards should not be only on one network (i.e. Only on VISA / only on Master/ Only on Rupay) ..
Atleast 9 cards on VIsa and 1 card on Rupay( or Master)...

Got it...??
Maybe this is true but what I deduced from it was: they suggest each card/variant to be on atleast 2 networks (which most of cards already do)
But then cards like DCP and DCB would fail, which makes me think that what you said could also be true..

But with this, banks would still manipulate... if you want our highest/premium card, go with mc (magnus days before ban), or if you want rupay, get entry level card

So, what I said should be actual (but difficult)
 
I don’t think that would be an issue, even without my clause, there’s huge spike in Rupay cards demand, there’re customers who wants to convert to visa from rupay due international transactions restrictions especially from Public sector banks customers. If a customer left with all the choices one can have, there will be a healthy competition & huge offers to retain & on board new customers. If there’s an equal platform for competition, there will be room for innovation & improvements. visa & master card decreased their rates after rupay surge, those options will give a customer centric approach to services
Mainly ppl are changing cus rupay give good offer (platinum & select, etc).

And aslo rupay cc can do upi thats why..
 
I don’t think that would be an issue, even without my clause, there’s huge spike in Rupay cards demand, there’re customers who wants to convert to visa from rupay due international transactions restrictions especially from Public sector banks customers. If a customer left with all the choices one can have, there will be a healthy competition & huge offers to retain & on board new customers. If there’s an equal platform for competition, there will be room for innovation & improvements. visa & master card decreased their rates after rupay surge, those options will give a customer centric approach to services
That the customer's point of view.

I was talking about bank point of view.
 
Card issuers shall provide an option to their eligible customers to choose any one among the multiple card networks. This option may be exercised by customers either at the time of issue or at any subsequent time.

What about this Clause, “issuer must provide any one Among the Multiple Card Networks”(never said at least out of 2). I take it as “out of all available card networks out there”. But what’s the gauge for eligibility

That the customer's point of view.

I was talking about bank point of view.
That’s what I’m saying, with are without new guidelines, customers eventually finding a way to get their required network from one or another bank, so they have to do it otherwise they’ll loose customer base. Banks has to take Customers pov otherwise they’ll go bankrupt.
 

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Is it true?, if it is then the very purpose of this new rule will be useless, in my personal experience when i went to federal bank branch for a new debit card(even before July Circular). the employee asked me which card you want visa/master card. so it’s already a common practice here & there(not widely available). The very purpose of this new guidance( if it’s not, at least it should be) is to provide the customer an option to choose a card network,irrespective of the card network exclusivity.
Whatever, I said was true..
Why that employee asked for your opinion is: because they are already providing two variants he gave you the option..
Suppose if it is only available on one network, you won't have an option to exercise your wish...
 
Whatever, I said was true..
Why that employee asked for your opinion is: because they are already providing two variants he gave you the option..
Suppose if it is only available on one network, you won't have an option to exercise your wish...
What about 3.C clause
 
they suggest each card/variant to be on atleast 2 networks
Now you are coming to the right point and point that most of the people are wrongfully assuming...
It is not each card/ variant...
Their( A bank/ an issuer) entire card porfolio should atleast be on two/more networks... all people please get this right...
 
That means , the Bank / issuer should not issue all their credit cards only on ONE Network...It should be atleast on TWO networks..

Example..
Assume, HDF* is issuing 10 cards like , MB, Milli* Regali*.....etc..
All these cards should not be only on one network (i.e. Only on VISA / only on Master/ Only on Rupay) ..
Atleast 9 cards on VIsa and 1 card on Rupay( or Master)...

Got it...??
I don’t think so, what I understand from the 3.B is at 2 networks across all the variants. Because. Even without new rules already almost all card issuers are already intact with new guidelines, they’ve already have at least one card variant with 2 or more card networks, then what’s the point of clause 3.B clause 3.C is enough.
 
What about 3.C clause
What 3.c is saying
Card issuers shall provide an option to their eligible customers to choose any one among the multiple card networks. This option may be exercised by customers either at the time of issue or at any subsequent time.

This means, say for exmaple:
ICICI Coral is available on Visa, Master and Amex...
One person got Coral on Visa...
Then this customer can at any time ( i.e. either at renewal / any subsequent time) can ask for Coral on master or Coral on Amex) then ICICI must obilige customer's reqeust.. They can't say I won't give you .. They have to as Coral is already m ade available by ICICI itself...
 
I don’t think so, what I understand from the 3.B is at 2 networks across all the variants. Because. Even without new rules already almost all card issuers are already intact with new guidelines, they’ve already have at least one card variant with 2 or more card networks, then what’s the point of clause 3.B clause 3.C is enough.
It is getting late, I will detail these rules later... Believe me whatever I said is correct.. I will tell you how these things work in real time... These are actaully useful for the customers long term... You need to understand in a broader perspective... It is all about point of angle.. These kind of big things won't change with one stroke...these have to be gradual transition....
 
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Lol, So only bank's need customer??
Customer's are happy without banks??
Nevertheless let's leave it upto the bank on what action is required to take.
I think banks need customers more.. because a customer can establish a new bank & cater the needs of other fellow customers. It’s easy to start a business but it’s difficult to keep a customer. Because there will be always a better alternative. If there’s no alternative one can start an alternative, but you can’t bring back already left customer with same behaviour of yours(banks) for which the customer left
 
I think @S S V is correct. The primary reason behind this kind of mandate is during the Mastercard ban, some banks like Citi, RBL & HSBC (I think) had card agreements exclusively with Master card only. Because of this customers got affected a lot during new account opening.
Also when applying for a card, the bank asks us the choose the network only if they already provide that particular variant in multiple networks.
 
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I think @S S V is correct. The primary reason behind this kind of mandate is during the Mastercard ban, some banks like Citi, RBL & HSBC (I think) had card agreements exclusively with Master card only. Because of this customers got affected a lot during new account opening.
Also when applying for a card, the bank asks us the choose the network only if they already provide that particular variant in multiple networks.
Read this article i think he’s not Click here
 

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