RuPay – India’s answer to Visa and Mastercard
RuPay is the brand of domestic card scheme floated by National Payments Corporation of India (NPCI). RuPay is a portmanteau word formed by the combination of Rupee and Payment and it also sounds very similar to hindi pronunciation of Rupees. Currently, all the card payments are routed through Visa or Mastercard which are world leaders in this area and these transactions are processed outside the country. After launching RuPay, the same process will be replaced by processing within the country.…
Issuer Identification Number (IIN)
What is Bank's IIN? IIN mean Issuer Identification Number. This number identifies the Bank to which you the Aadhaar number is mapped. IIN is a six digit number and will be used for making AEPS (Aadhaar Enabled Payment System) transaction. In most banks BC customer service points, this number would be represented on the terminal by the banks logo or name and hence this number is not to be remembered by the customer, however, it is recommended that the customer…