Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 5 companies across 3 categories.
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Founded in 2011 as India's government-backed domestic card network, RuPay was designed to reduce India's dependence on foreign card networks like Visa and Mastercard and to lower transaction costs. Over time, NPCI expanded RuPay beyond debit into prepaid, credit, and contactless cards. The most significant structural pivot came with the integration of RuPay credit cards into the UPI payment stack, effectively making RuPay the embedded credit rail for India's dominant mobile payments infrastructure. The network now functions as both a card scheme and an embedded payments layer for fintech co-branded products.
Other Card Network providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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<img src="https://www.embeddedfinanceindex.com/api/badge/rupay/install" width="1" height="1" alt="" style="display:none">5 companies are linked to RuPay in the Embedded Finance Index 2026, through their own public disclosures or RuPay's published customer list, including Easebuzz, Kreditbee, Npci International, Federal Bank and Idbi.
RuPay is an embedded-finance provider in Card Network, PSP and Card Issuing. It ranks #9 of 15 Card Network providers by linked companies.
The most-named Card Network alternatives to RuPay are Visa (355 buyers), Mastercard (314 buyers), American Express (46 buyers), Verve (24 buyers), Discover (22 buyers) and UnionPay (13 buyers).
RuPay is founded in 2011 and headquartered in Mumbai, Maharashtra, India.
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