RBI circular on network choice

Reserve Bank of India’s guidelines on issue of cards is expected to benefit home-grown network RuPay the most, especially in the credit card space where the network has a low market share.

“Traditionally, consumer choice in cards in India has rarely been driven by the network. Unlike markets like the US, choice has been driven by the issuer and the underlying value proposition,” said Ranadurjay Talukdar, Partner and Payments Sector Leader, EY India.