What are the different Debit Cards?

 A Debit Card is a plastic money that allows users to get cash from an ATM or pay for goods and services online or offline. However, did you realise that the Debit Card you use for purchases or ATM withdrawals is different from the Debit Card used by someone else?

A user chooses from a variety of Debit Cards depending on their intended purpose and transaction value. Now, before you apply for a Debit Card, understand the differences between the types of Debit Cards so that you can choose the one that best suits your needs:

Visa Debit cards

These are accepted worldwide, giving users financial flexibility for transactions inside and outside the country. Visa Debit Cards get issued by banks partnered with the International Visa Payment System Network. Offline, internationally, online, and over the phone, these cards provide quick, secure, and convenient access to a user's money. You apply for Debit Card online for this type.

RuPay Debit Cards

The National Payments Corporation of India introduced RuPay, an Indian transnational payment service. These are issued as part of the domestic Debit Card scheme and used for domestic purposes. They get used to withdrawing cash from ATMs or making online payments within the domestic boundary. Besides that, compared to Visa and MasterCard, these cards have a lower processing cost and time. Banking apps also let you apply for them.

MasterCard Debit

These are accessible anywhere in the world. They come in handy at ATMs and for online transactions. They allow you to keep a complete record of all transactions done each month. You can go for an online Debit Card to help you with online transactions.

Contactless Debit Cards

Such cards are famous because you need not input your PIN. Payments made with contactless Debit Cards are made simply by waving or tapping at the POS terminal. These cards work on the Radio Frequency Identification or Near Field Communication concept, equipped with contactless payment technology.

Maestro Debit Cards

They are comparable to MasterCard Debit Cards that are accepted worldwide. Users who have a Maestro Debit Card conduct online transactions inside and outside the country. Besides, they can use it as Debit Card worldwide.

Since there are so many Debit Cards, it is good to perform a thorough analysis of each before applying. The comparison parameters should be benefits, incentive programmes, security, processing fees, and other extra features.