Comments by "looseycanon" (@looseycanon) on "Think School" channel.

  1. You know, what would have absoutely trolled China? If they completed the rail all the way to Turkey and built a tunel in Istanbul to connect Turkish Asian and European networks... and then India built a standard gauge line off that railroad to it's own industrial centres. Literally using China's wapons against them.
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  2. You wish. Sure, India is a huge market, but how do you intend to compete with cards like Visa, MasterCard or Amex outside of India? For instance, in Czech Republic, Visa and Mastercard have almost the same offers, they are established and well received, local banks even combine these cards with other cards, such as Sphere, which bring other benefits. The only card, which almost isn't offered here, which is accepted though, is Amex and even that not everywhere. Why would someone go with RuPay, if they already have well established cards in their home currency or a foreign one, which work basically anywhere a person might travel to? How do you estabish a competitive network of services and bonusses across the world with such a weak market as India? Sure, it's vast, but very low buying power, meaning you need to have huge number of transactions to process to earn what others are earning. Case and point American Express! Their revenue year on year is higher than Visa, even though there are vastly fewer of these cards than MC or Visa. how do you compete with that, having much lower per-card revenue? You can't go with lower costs, because you're already in India and you have to provide services across the world, where there are much higher prices, costs to businesses are already very low with MC and Visa and customers are already set on those cards already present in the market? I have no doubt, that Rupay will attract a good base in India, maybe in exceptionally poor nations and probably in those nations, which have above standard relations with India. Bhutan and Nepal come to mind, but outside of that? I live in a pretty internatinal place. I have never seen a JCB, or UnionPay in my life and, as far as I know, none of the banks around offer these non-American cards. So no, I really don't think, that Rupay will be a true success. International cards will be one of the big three. "Why have a local card, limited in use outside of your borders, when you can have a global card?" will be the largest hurdle for Rupay to overcome and I really don't see a way for it to do so.
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