Visa complains to US govt about India backing for local rival RuPay
Visa Inc has complained to the U.S. government that India’s “informal and formal” promotion of domestic payments rival RuPay hurts the U.S. giant in a key market, memos seen by Reuters show.
In public Visa has downplayed concerns about the rise of RuPay, which has been supported by public lobbying from Prime Minister Narendra Modi that has included likening the use of local cards to national service.
But U.S. government memos show Visa raised concerns about a “level playing field” in India during an Aug. 9 meeting between U.S. Trade Representative (USTR) Katherine Tai and company executives, including CEO Alfred Kelly.
Mastercard Inc has raised similar concerns privately with the USTR. Reuters reported in 2018 that the company had lodged a protest with the USTR that Modi was using nationalism to promote the local network.
“Visa remains concerned about India’s informal and formal policies that appear to favour the business of National Payments Corporation of India” (NPCI), the non-profit that runs RuPay, “over other domestic and foreign electronic payments companies,” said a USTR memo prepared for Tai ahead of the meeting.
Visa, USTR, Modi’s office and the NPCI did not respond to requests for comment.
Modi has promoted homegrown RuPay for years, posing a challenge to Visa and Mastercard in the fast-growing payments market. RuPay accounted for 63% of India’s 952 million debit and credit cards as of November 2020, according to the most recent regulatory data on the company, up from just 15% in 2017.
Publicly, Kelly said in May that for years there was “a lot of concern” that the likes of RuPay could be “potentially problematic” for Visa, but he stressed that his company remained India’s market leader.
“That’s going to be something we’re going to continually deal with and have dealt with for years. So there’s nothing new there,” he told an industry event.
https://www.reuters.com/business/finance/exclus...
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Created by : abhishek012
Ex-NPCI CEO AP Hota said – Visa need not get scared of RuPay, they should focus on what India needs - https://www.desidime.com/discussions/ex-npci-ce...
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Yes, China never allowed Visa/MasterCard/Amex/Diners club to enter chinese market.
Before 2016, all Unionpay cards are co-badged with visa & mastercards -
In year 2016, china completely 100% ban Unionpay co-badged card with visa & mastercard.
In 2017, Donald Trump forced China to allow visa & mastercard in chinese market.
year 2018, China’s central bank allow to apply for local clearing and settlement license. Visa, master & Amex already applied for local clearing and settlement license in China.
Till now November 2021. Visa, master & Amex still not issue in China
But in so many years, China has taken full advantage. China’s Unionpay card now accept 180 countries and 70+ countries locally issue Unionpay cards.
Infact, before 2014. Former PM Manmohan Singh agreed to sign MOU with China’s Unionpay card to launch RuPay-Unionpay co-badged cards in India. Unionpay will provide all its chinese technology to build our RuPay card. In short china made RuPay card
but thanks to Modi govt, BJP came in power and decide to build our own indigenous RuPay card in India.
“everyone cannot go to the border to protect the country, we can use RuPay card to serve the nation”
Ab mai kya he bolu
@abhishek012 expert advice
In my view, RuPay card losing market share after pandamic.
All famous neo banks like Jupiter, Niyo etc tieup with Visa card.
Mostly all new famous NBFC prepaid cards companies now tieup with Visa card like Slice, Unicard etc.
One Card, every month partnership with new new banks but their network partner still Visa.
HDFC banks all famous credit cards are on Visa Platform.
RBL, Paytm, IDFC, Amazon, Flipkart, HSBC, Yes bank, Axis, ICICI, Citi, SBI CARD Simply click, SBI Prime. all famous credit cards are on Visa Platform.
All Large co-branded credit cards are on Visa platform.
Commercial/corporate credits cards are now 100% on Visa platform.
and last thing, Most Indians have RuPay cards but they dnt use it. Most Indians frequently use visa card. Card companies earn money when you use your card.
but Indian banks are still supporting visa and mastercard…..its a cumbersome process to get rupay cards…especially in sbi…
We need more banks to directly promote UPI based credit like ICICI Paylater and Govt to promote UPI based transactions.
This is overdraft account.
UPI based credit services is not available and NPCI is currently not interested to launch UPI based credit services.
Why even need of UPI/Mobile/DebitCard/..etc just have fingerprint/Iris scan machines which pulls linked banks; choose bank and enter pin Txn done
Good idea, No need to kidnap someone to demand ransom next time.
Bas bande ka finger cut lo aur ankhen nikal lo. 
Ex-NPCI CEO AP Hota said – Visa need not get scared of RuPay, they should focus on what India needs - https://www.desidime.com/discussions/ex-npci-ce...
Made in india.. ispar doubt kyo karne lagte hain log.. china se sikhne ki jarurat hai sabko.. kaise wo log chinese ko promote karte hain.. they always try find alternatives that is china made..
Long term investment hai ye.. if every indian start using indian products.. that help our business ecosystem.. apna pakao apna khao.. resturants se kya mangana.. 
100% nahi to thoda tnoda hi shift hote jaye log to kuchh help hota jayega indian economy ko
problem is not Gandhi, Modi, Ambani, Tata, Adani (no body talks about Bajaj which enjoyed monopoly for decades in scooter and auto riksha business, Rahul→Rajiv/Sanjiv Bajaj | Sanjiv/Rajiv→Rahul Gandhi that kind of relationship)
problem is WE.
we keep praising US/Europe entrepreneurs (like Gates, Dell) but keep abusing our own (now a days Ambani/Adani)
and if you think US companies dont get favors from their govt then you are living in Fool’s World. Biggest lobbying is done in US is by their corporates (just like mentioned in the thread subject). this corporates pay the parties/congress men/women during elections
we need to respect our wealth creators
Note: Reliance did not become big after 2014, it was always growing. Reliance was sponsor of 1987 World Cup
We keep praising about NRIs getting top level position in big organizations n yet we keep on ostracizing our own entrepreneurs. The problem is the subtle way in which Congress tried to steer India towards communism. They even peddled that Hindi Chini bhai bhai. Check our pop culture you ll get the answer. So, they say that rich is evil. Then people get rich n forget about the poor. Congratulations, the ideology is reinforced. Everything is present in our subconscious level. 🙂
Edit: deleted because, it might harbour negative reactions.
Visa and Mastercard doesn’t have a problem when China do the same with unionpay
Nothing wrong in promoting RuPay.
their ex-president was also promoting American “buy american hire american”
we can do same for our product/service.
Visa and Mastercard doesn’t have a problem when China do the same with unionpay
Yes, China never allowed Visa/MasterCard/Amex/Diners club to enter chinese market.
Before 2016, all Unionpay cards are co-badged with visa & mastercards -
In year 2016, china completely 100% ban Unionpay co-badged card with visa & mastercard.
In 2017, Donald Trump forced China to allow visa & mastercard in chinese market.
year 2018, China’s central bank allow to apply for local clearing and settlement license. Visa, master & Amex already applied for local clearing and settlement license in China.
Till now November 2021. Visa, master & Amex still not issue in China
But in so many years, China has taken full advantage. China’s Unionpay card now accept 180 countries and 70+ countries locally issue Unionpay cards.
Infact, before 2014. Former PM Manmohan Singh agreed to sign MOU with China’s Unionpay card to launch RuPay-Unionpay co-badged cards in India. Unionpay will provide all its chinese technology to build our RuPay card. In short china made RuPay card
but thanks to Modi govt, BJP came in power and decide to build our own indigenous RuPay card in India.