Federal Bank in Rupay League

Federal Bank has joined the Rupay League of India’s own domestic payment network. N.R. Narayana Murthy, Chairman Emeritus of Infosys Ltd, unveiled the bank’s Rupay Brand Debit card at Kochi. The new card offers another option to Federal Bank’s customers to choose from. 

The debit card would be accepted on over 1 lakh ATMs of National Financial Switch member banks in the country and would be accepted on POS and Internet soon. Federal Bank is the first private sector bank and the 10th bank in the country to launch Rupay Card, a press release said. Rupay is the card scheme launched by the National Payment Corporation of India to offer a domestic, open loop, multilateral system which will allow all Indian banks and financial institutions in India to participate in the electronic payments market.


Source: thehindubusinessline