Custom Search

Monday, February 3, 2014

RuPay Card base to touch 25 mn by Mar: NCPI

The National Payment Corporation (NPCI) plans to almost double the number of RuPay Cards, the homegrown rival to Visa and MasterCard, to 25 million over the next two months.

"We have so far issued 14 million RuPay cards, and this will touch 25 million by the end of March," NPCI Managing Director and Chief Executive Abhay P Hota told PTI.

NPCI is the nodal agency under the Reserve Bank that manages the national payment switch and has developed the RuPay Cards.

RuPay Card, Reserve Bank and domestic lenders-promoted NPCI's answer to Visa and the MasterCards which control the domestic plastic money market, was launched in April 2012.

It has seen as many as 210 banks, including all public sector banks and some of the leading private sector ones, issuing these domestic debit cards, Hota said.

He agreed, however, that most of the RuPay customers are urban cooperative banks and regional rural banks.

Source: Economic Times


Post a Comment

Popular Posts

Desi Google | A2Z Famous Quotes | What's Cooking America | Joke Site