DefinePK

Description

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VIDEO INTRODUCTION:
On 15th of August 2014, the govt of India made a revolutionary announcement about the Pradhan mantri Jan Dhan Yogna, and this gave rise to an iconic venture by the National Payments Corporation of India.This venture that I am talking about is none other than India’s own card network Rupay. and Rupay has taken such big strides in the Indian payment industry that in 2013, RuPay accounted for only 0.6% of all cards but in just 4 years, by June 2017, Rupay had already surpassed Visa as India’s largest payment card with 375 Million transaction and by 2020 it already commanded a market share of 60% in the India’s card market!!This put VISA under such a big threat that it approached the US govt to help them stand against Rupay!! So the question, in just 6 years, How did Rupay kill the billion dollar Duopoly of Visa and Mastercard in India?What is the govt’s strategy and intent behind this revolutionary intitiative?and most importantly, as citizens of India, how is this going affect lives of the people of India?

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Study materials
1. https://razorpay.com/learn/what-is-mdr-psp-fee-switching-fee-interchange-fee/

2. https://www.rupay.co.in/

3.https://indianexpress.com/article/business/banking-and-finance/merchant-discount-rate-rollback-on-upi-rupay-debit-cards-7737229/

4. Working of credit cards
https://drive.google.com/file/d/1RBeTdGFjDlwBqWvt6nmLj52Qo-hJ1RMW/view?usp=drivesdk

5. Working of Razor Pay
https://razorpay.com/blog/how-online-card-payments-work/#:~:text=Razorpay%2C%20on%20behalf%20of%20the,transaction%20amount%20to%20the%20merchant

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#thinkschool #RUPAY #VISA #MODI #NAMO Credits: CNN-News 18, WION, NBC News, Money control pro, Business standard, TV18,Business Today, ABC news, CNBC, ET now ,Bloomberg originals, Financial Times, DW documentary, AL Jazeera English, BBC news, Firstpost. Fair use - This video is for educational purposes only. All materials used in this video, including images, audio, and video clips, are the property of their respective owners and are used here under the doctrine of fair use. This video is intended to provide commentary, criticism, research, and education on the subject matter. We believe this constitutes a fair use of any such copyrighted material as provided for in Section 107 of the US Copyright Law.