InvestorQ : What are various types of cards available in India?
riya Ranade made post

What are various types of cards available in India?

image
1 year ago
Follow

According to the Reserve Bank of India, cards can be classified on the basis of their issuance, usage and payment by the card holder.

There are three types of cards (a) debit cards (b) credit cards and (c) prepaid cards.

Debit cards are issued by banks and are linked to a bank account.

Credit cards are generally issued by banks and a couple of non-banks, but can also be issued by other approved entities.

Prepaid cards are issued by banks / non-banks against the value paid in advance by the cardholder and stored in such cards which can be issued in the form of cards or wallets.

5 Views