India backing local rival RuPay complains Visa

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, according to a memo from the United States Trade Representative (USTR).

India backing local rival RuPay complains Visa
Rupay Debit cards 

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, according to a memo from the United States Trade Representative (USTR).

The USTR memo that was prepared ahead of a meeting between USTR Katherine Tai and Visa executives, said the company remained concerned about India’s policies that appear to “favor the business of National Payments Corporation of India (NPCI, which runs RuPay) over other domestic and foreign electronic payments companies.”