The National Payments Corporation of India (NPCI) is reportedly planning to enter the credit card market by allowing banks to issue such cards under the RuPay platform.
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It intends to roll-out the credit card facility across the nation in March 2016, when Indian banks begin issuing RuPay credit cards to their customers.
NPCI managing director and CEO AP Hota was quoted by The Hindu Business Line as saying: "We are looking at March for this. It could happen in the January-March quarter next year."
Hota added that the launch of RuPay credit cards in early 2016 is targeted at helping NPCI achieve its goal of increasing its current market share of 15% to 50% in the next few years.
RuPay, an Indian card scheme conceived and launched by NPCI, has been designed to enable electronic payments at all Indian banks and financial institutions.
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By GlobalDataThe banks across India have started issuing RuPay debit card, with nearly 190 million cards already issued.
