What is a Debit Card?

This is basically a card that gives a handy get entry to to our bank account and permits us to carry out financial transactions as in line with our requirement as well as convenience. So with a debit card, we’re almost carrying our financial institution account with us.

The debit cards in India encompass Visa debit cards, Visa Electron debit playing cards, MasterCard debit cards, RuPay debit playing cards, Maestro debit card. These are issued through the banks who have a tie-up with any of those manufacturers.

Benefits of A Debit Card

• Debit Card gives the benefit of cashless transaction.
• It can be used for coins withdrawals at ATM and shopping online or at PoS.
• It ensures immediate charge as well as switch of funds.
• Unlike credit score playing cards, which are a loan in conceal, debit card encourages judicious spending.
• It lets you redeem the reward factors received from certain offerings like insurance coverage, bonus points, coins again offers which can be presented with the aid of banks.
• Debit cards are more secure than wearing cash.
• You will pay EMIs on positive online purchases as well.

Types of Debit Cards in India

1. Visa Debit Cards These debit playing cards are issued with the financial institution’s tie-up with VISA price services offering the Verified via Visa (VbV) platform for on-line transactions.
2. Visa Electron Debit Cards Visa Electron debit playing cards are very similar to Visa debit playing cards however these playing cards do not provide the overdraft feature.
3. MasterCard Debit Cards A MasterCard Cirrus Card or a MasterCard Maestro Card offers customers get entry to to their price range global and they could perform online transactions the usage of their bank debts on the MasterCard SecureCode platform.
4. Contactless Debit Cards Customers could make bills with just a faucet or wave of their contactless debit cards close to PoS terminals, with the cards operating on Near Field Technology (NFC) thereby making electronic bills more secure.
5. RuPay Debit Cards Introduced as a home card scheme by the NPCI, RuPay debit cards facilitate on line purchases and transactions at the Discover network and ATM transactions below the National Financial Switch community.
6. Maestro Debit Card Founded in 1992, Maestro from MasterCard is a optimum, international debit card provider that has been popularly followed at over thirteen million locations unfold across a hundred+ nations around the world. Maestro, as without difficulty recognized through the signature brand on all accomplice playing cards, helps the client advantage instant get right of entry to to his/her cash through a sturdy, worldwide community of like minded ATMs, POS stores, and online resources.