New Delhi: It seems that the domestic banks are not ready to pay heed to the Union government’s Indian version of Visa and MasterCard-- Rupay.

In a bid to use Visa and MasterCard as gateway, the domestic banks pay them in crores as fees but are not willing to adopt Rupay-which is available free of cost.

To date, only four banks have started using Rupay. Indian banks pay to Visa and MasterCard for processing all debit and credit card payments.

Around 95 percent of credit and debit cards are generated through them only and have their switching operations abroad.

This means, whenever your debit/credit is swiped, the information first goes to the foreign based centre and then the entire process gets completed.

The visa and MasterCard charge Indian banks for this service.

However, this trend is not considered to be fit as the transaction details of the country go abroad.

After much deliberation for two years, the Reserve Bank of India in June 2011 had presented Indian card known as Rupay cards.

It is said that through Rupay cards, private and government run banks in India will save billions as they will not have to pay any sort of fees to foreign companies.

But, only Kashi Gomti Gramin Bank, Bank of India Dhanadhar card, Gopinath Patil Parsik Janata Sehkari Bank and NKGSB bank are ready for its use.

According to banks, since it is not familiar with public and lacks technical advancement, the Rupay is not being used.

The apex bank maintains that the use of credit cards is increasing and India should have its own payment process.

In 2010-11, transactions worth around Rs 26.50 crore took place and Rs 755 billion were paid as fees.

China has already implemented its domestic option of visa and mastercards successfully.