Digital payments are on the rise. Now it is easy to have less cash and make maximum payments through various digital payment modes. Owing to such emergence, the demand for credit cards has also increased. However, before apply for a credit card, it is better to research on various benefits that different card issuers are providing. In such a view, you should also have some basic knowledge of different credit card networks.
In India, there are 5 different card networks:
1. Visa: It is one of the most beneficial networks in the world. You must have seen debit and credit cards marked with ‘VISA’ on them. Different kinds of VISA marked card are:
- Visa Gold
- Visa Signature
- Visa Classic
- Visa Infinite
- Visa Platinum
2. Mastercard: It is the card network that dominates almost half of the market. Some common benefits on Mastercard powered credit card are:
- Lounge Access
- Local and Global experiences
- Contactless payments
The variants of Mastercard are:
- Standard Credit Cards
- Platinum Mastercard
- World Mastercard
3. Rupay: National Payments Corporation of India launched RuPay. Its common benefits are:
- Travel
- Shopping
- Retail purchase
Its variants are:
- RuPay Classic
- RuPay Platinum
- RuPay Select
4. American Express: This payment network also issues credit cards. Some cards of American Express available in India are:
- American Express Platinum Reserve Credit Card
- American Express Platinum Travel Credit Card
- American Express Membership Rewards Credit Card
5. Discover: In India, Discover branded cards are provided by HDFC bank and Diners Club International.
Read more in detail: Different Credit Card Networks In India
