About RuPay

• RuPay is the first-of-its-kind global Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India. 
• RuPay fulfils RBI’s vision of initiating a ‘less cash’ economy. 
• RuPay is a product of the National Payments Corporation of India (NPCI), the umbrella organisation that powers retail payments in the country. 
• The provision under the Payment and Settlement Systems Act, 2007, empowered the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) to create a secure electronic payment and settlement system in India.
• The nature of NPCI’s initiatives and objectives includes it under the “Not for Profit Company” under the Companies Act 2013. 
• Presently, RuPay cards are issued by more than 1,100 banks which includes Public Sector Banks, Private Sector Banks, Regional Rural and Co-Operative Banks.

Why in News?

• Maldives is set to launch India’s RuPay service.
• Over the last few years, multiple banks and payment companies from across various countries have partnered with NPCI International Payments Ltd (NIPL), the international arm of NPCI, to accept UPI and RuPay in one form or the other. 

https://bfsi.economictimes.indiatimes.com/news/policy/maldives-to-launch-indias-rupay-service-amid-bilateral-tensions/110412112