Indians gamblers usually have a common challenge: finding a payment method that is easy, fast, and convenient when they deposit their Indian Rupees. The players face this challenge because most online casinos available to punters in India have their base outside the shores of the country. While some of these foreign casinos do not accept Indian rupees, others do not even accept Indian punters.
Many Indians use their credit cards, e-wallet, net banking, and bank transfer for their deposits to solve this issue. However, these methods come with their challenge, as not all banks allow their customers to transfer to gambling websites. With all these in mind, there is a need to create a unique payment system tailor-made for Indian players to solve their gambling funding needs. The Reserve Bank of India rose to this challenge in 2014 by launching the RuPay card. Since then, many casinos in India have started to accept the card as a method of payment.
So, what does RuPay mean, and how can you gamble with it? This and many more you will find out in this article.
What is RuPay?
The name RuPay has deep roots in the nationality of India. The payment method which India’s National Payment Corporation created is an indigenous card scheme. RuPay cards came to be in order to allow India to participate more in online electronic payments. At its creation in 2014, it was a step taken by India’s government to ensure that the country joins its counterpart in becoming a cashless society. All over India today, RuPay cards are accepted as a valid means of payment at POS terminals, e-commerce websites, ATMs, etc.
RuPay comes from two words; “Rupee”—India’s currency and ‘Payment.” From the name, one can see that it is India’s credit/debit card payment solution. Therefore, using the payment comes with a sense of patriotism. More importantly, RuPay offers you safe, user-friendly solutions like POS, tokenization, and so on, which are available on mobile phones.
With support from the Reserve Bank of India (RBI), RuPay is currently working with over 1,100 foreign and local banks in India. As a result of these massive partnerships in the last six years, the number of casinos that accept RuPay has increased.
How does RuPay Work?
Rupay is available in credit, debit, and prepaid card formats. The credit cards also have three varieties; classic, select and platinum credit cards. On the other hand, debit cards have just two variants; the classic and the platinum debit card.
To get your RuPay card, you can make a request at your bank, or you can apply online for your card. At the moment, over 700 banks in India issue this card. After you have your card, you can now proceed to make payments.
Using RuPay is just as easy as it is to make payments using any other method of payment. Although the process might vary slightly on different casinos, the basic principles remain the same. First, you need to register at a casino of your choice. After the casino has confirmed your registration, you can continue your deposits using the following easy steps.
- Sign up with any of the online RuPay casinos in India
- Make sure that you verify your registered account.
- Click on the cashier section of your casino.
- Proceed to make your deposit by choosing ‘RuPay’ from the list of options
- Fill in the details of your RuPay card and the amount you wish to deposit.
Withdrawals with RuPay take a similar procedure only with a few differences. The steps include:
- Find your way to the cashier section of your casino once again, but this time select withdrawals or cashout.
- From the list of options available, select Rupay
- The casino will have you fill in the details of your RuPay account along with your address, phone number and many more. This process is called verification, and it is for your safety.
- Once you are done, click withdraw, and your cash would be sent to you.
While deposits come with no fees, withdrawals might cost you a fee depending on the casino of your choice. Deposits are also faster than withdrawals, and they take almost the same time as using a credit card or debit card.
While your withdrawals might take some time for processing, your first withdrawals would take longer than you expect. That’s because the government of India takes the Know Your Customer (KYC) policy seriously. As a result, you might need to upload your persona documents while you await the approval of your account.
Benefits of using RuPay for gambling online
As an Indian who loves to gamble, here are some reason why you should use RuPay
- The National Payments Corporation owns this payment system to show you how reliable and credible the system is
- Rupay offers you a safe and secure method of payment.
Deposits made with Rupay happen very fast.