Co-op banks more inclined towards Rupay Card: Survey

A recent survey reveals that cooperative banks in Gujarat would rather have Rupay Card than MasterCard or Visa, reports DNA. 46 officials of 24 banks took part in the sample survey.

Deepti Mittimani, director, business solution of Wibmo, which manages back-end of the digital payments of public and private banks said it is surprising that cooperative banks seem more inclined towards Rupay Card.

Lack of options for digital payments by cooperative banks has alienated youths, which is the fastest emerging clientele for banks, said JV Shah, CEO of Gujarat Urban Cooperative Banks Federation, of which Jyotindrabhai Mehta is the President.

Experts say a digital payment is not affordable for most of District Central Cooperative Bank (DCCB) and urban cooperative banks in Gujarat as they are not doing substantial business.