NEW DELHI: Visa Inc has complained to the United States government that India’s “informal and formal” promotion of domestic payments rival RuPay hurts the US giant in a key market, memos seen by Reuters show.
In public, Visa has downplayed concerns about the rise of RuPay, which has been supported by public lobbying from prime minister Narendra Modi that has included likening the use of local cards to national service.
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