India signed an agreement with Saudi Arabia to launch the RuPay card in the country, making it the third nation in the West Asia to initiate India's digital payment system which will benefit not only the 2.6 million Indians in the Gulf Kingdom but also Haj and Umrah pilgrims.
The RuPay card is a first-of-its-kind Indian domestic Debit and Credit Card payment network, with acceptance at ATMs, POS devices and e-commerce websites. It was launched in 2012 to fulfil the Reserve Bank of India's vision to have a domestic, open and multilateral system of payments.
India has already launched the RuPay card in the UAE, Bahrain, Singapore and Bhutan. During Prime Minister Narendra Modi's visit, an MoU was signed to launch the RuPay cards in Saudi Arabia, said a joint statement issued at the end of his visit.
