Demand for Rupay credit cards has witnessed a substantial increase, surpassing Visa and Mastercard, especially in India’s Tier-2, 3, and 4 towns and cities, following their integration with the United Payments Interface (UPI). According to fintech platform ZET’s consumer study, Rupay credit card demand surged by 37% in Q3 2023, building on a 23% increase in the previous quarter. Among the top 10 cities driving this demand were Jaipur, Meerut, Surat, Nagpur, and others. While Mastercard and Visa accounted for 36% and 35% of card issuances in the April-June quarter, Rupay cards took the lead at 37% in the subsequent quarter. Axis Bank, HDFC Bank, and SBI were the preferred banks for distributing Rupay cards, reflecting the increasing popularity of digital payments across India, including its hinterlands.