RuPay cards pop­u­lar among coops

Banking Frontiers - - Cooperative -

Co­op­er­a­tive banks in Gu­jarat pre­fer RuPay cards to Master­card or Visa, ac­cord­ing to a sam­ple sur­vey dur­ing a work­shop for dig­i­tal pay­ments in the Ahmed­abad. Co­op­er­a­tive banks said that af­ford­abil­ity to en­able non-cash trans­ac­tions and hu­man re­source bot­tle­necks are the main rea­sons why dig­i­tal pay­ments have not peaked up in ru­ral ar­eas and towns. The work­shop was jointly or­ga­nized by dig­i­tal so­lu­tions com­pany Wibmo and the Gu­jarat Ur­ban Co­op­er­a­tive Banks Fed­er­a­tion. Some 46 of­fi­cials of 24 co­op­er­a­tive banks in the state par­tic­i­pated in the sur­vey. Ac­cord­ing to di­rec­tor of Wibmo Deepti Mit­ti­mani, it sur­pris­ing that bankers chose RuPay over Master­card and Visa, con­sid­er­ing the qual­ity of ser­vices Master­card of­fers. Per­haps there is a per­cep­tion that their ser­vices are costlier, which is not the case, she said, adding there might be a feel­ing that RuPay is an In­dian prod­uct and, so it should be pro­moted. J.V. Shah, CEO of the Fed­er­a­tion, said lack of op­tions for dig­i­tal pay­ments by co­op­er­a­tive banks has alien­ated youths, which is the fastest emerg­ing clien­tele for the banks. This seg­ment gets di­verted to pri­vate or pub­lic sec­tor banks. Co­op­er­a­tive banks in the state in­tend to woo this seg­ment with new of­fer­ings, he added.

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