New Delhi: Union Law Minister Ravi Shankar Prasad on Wednesday took to Twitter to talk about the success of the RuPay, India’s digital mode of payment. He also used the opportunity to hail the launch of RuPay in UAE, asserting that now Indians can make payments anywhere in the UAE using the card.
Recently, Prime Minister Narendra Modi launched the RuPay card in Dubai during his two-day state visit, making the UAE the first country in West Asia to initiate the Indian indigenous system of electronic payment.
“RuPay is rapidly becoming a popular mode of digital payment not only in India but is also spreading in many other countries. Recently PM @narendramodi launched RuPay in UAE. So now you can make payments anywhere in UAE using your RuPay card,” the law minister said in the tweet.
Ravi Shankar Prasad also put out a graphic depicting the increase in the value of the digital payments through RuPay in May, June and July this year. May 2019 recorded a total business of Rs 4,407 crore while June saw the business growth of Rs 229 crore. In July, the business was recorded to be the highest of all the three months, at Rs 5, 311 crores.
RuPay card scheme was launched in 2012 to fulfil the Reserve Bank of India’s vision to have a domestic, open and multilateral system of payments. RuPay facilitates electronic payment at all Indian banks and financial institutions.
RuPay has also tied-up with international players like Discover, Japan Credit Bureau and China Union Pay to enhance its international acceptance and recently achieved a milestone of issuing 25 million RuPay cards.