What is Triggering Devaluations

[anivar]

It is RBI circular for franchise change as mandatory requirements

We are going to see a massacre of all popular cards.

UPI is killing MDR and killing MDR kills rewards

Now Bank cards , just like accounts , are going to be dump pipes with Rupay and UPI enabling.

Every popular card will die if RBI continue this move

Wait and watch

 

[rogerthat]

@Abhishek012 Kindly your comments please. I though somewhat agree that Rupay+UPI will mostly kill the entire credit card rewards system. In fact, Visa, MasterCard etc. will probably find doing business in India unsustainable.

 

[PavvanPavvan is verified member.]

Nope nope FD rates are killing rewards ..There is a huge deposit crunch with bank ..People are claiming main reason rbi tooks 2000 Notes is to increase the deposits with bank..Untill unless deposits are saoring cedit rewards will be hit.

Just compare between 2018 and 2023 please correct me if am wrong 😀

 

[Abhishek012]

@Abhishek012 Kindly your comments please. I though somewhat agree that Rupay+UPI will mostly kill the entire credit card rewards system. In fact, Visa, MasterCard etc. will probably find doing business in India unsustainable.

"Credit on UPI" is not Free - they are charging 1.75% to 2% MDR

Today, i already shared this info in another thread -

Just like we have debit card and credit card, similarly "Credit on UPI" network and "Debit on UPI" network available.

"Debit on UPI" link with our banks accounts

"Credit on UPI" link with our credit cards (RuPay)

NPCI team is creating a new "Credit on UPI" network.

Currently, Credit on UPI work on "Debit on UPI" network, that's why free bank transfer or cc bill payment working.

Just wait few more months, once "Credit on UPI" network will fully live, NPCI will discontinued Credit card link UPI payment on "Debit on UPI" network.

This is similar to when RuPay Credit Card was launched 5-6 years back that time RuPay Credit Card network was not exist. Temporarily RuPay Credit Card was working on RuPay Debit Card network and that time RuPay credit card rewards MDR rate was also under 0.9% only.

Due to that, people have a misconception that the MDR of RuPay Credit Card is low but that's wrong information.

Presently, RuPay credit Card network is fully live and the MDR of RuPay Credit Card is similar to that of Visa/MasterCard.

Now this is going to happen with "Credit on UPI" network as well and "Credit on UPI" network will also charge MDR for transaction above 2k.

You guys just have to be patient. This is something that Indians are witnessing for the first time. A complete credit card network/Credit UPI network being built from scratch.

 

[Deleted member 9785]

@Abhishek012 Kindly your comments please. I though somewhat agree that Rupay+UPI will mostly kill the entire credit card rewards system. In fact, Visa, MasterCard etc. will probably find doing business in India unsustainable.

Brother eventually CBDC will kill almost everything . That is the end game by 2030

CBDC will eventually kills bank and credit card companies

Central bank digital currencies will eventually finish all other payment systems and credit cards. Govt will have full control over your spending WEF has aimed at 2030.. Enjoy life till the party lasts

www.technofino.in

 

[abhishek751]

It is RBI circular for franchise change as mandatory requirements

We are going to see a massacre of all popular cards.

UPI is killing MDR and killing MDR kills rewards

Now Bank cards , just like accounts , are going to be dump pipes with Rupay and UPI enabling.

Every popular card will die if RBI continue this move

Wait and watch

Or its an opportunity for them to revamp their age old methoda to include UPI transactions, not by incorporating UPI, just by adding a way by which upi payments can be made.

 

[anivar]

RBIs attack on card network exclusively continues