RuPay

Definition	Rupee + Payment
Category	Business » Banking
Country/Region	India
Popularity
Type	Portmanteau

What does RuPay mean?

RuPay is the Indian domestic card payment network set up by the National Payments Corporation of India (NPCI). The main objective of the RuPay payment network project is to reduce the overall transaction cost for the banks in India by introducing competition to international card schemes like MasterCard & Visa and to develop products appropriate for financial inclusion. The name RuPay is coined from two words, Rupee (Indian Rupee) and Payment.