The Ministry of Urban Development of India has approved a Smart National Common Mobility Card (NCMC) model that will enable seamless travel across mass transit modes and can also be used as a credit or debit card for shopping.

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The new card will phase out the requirement of carrying separate cards for banking and transit needs, as it can be used for multiple transport systems including metro rail as well as will also allow account based retail applications.

A committee set up by Indian urban development minister M Venkaiah Naidu has given the green light to the EMV Open Loop Card model with stored value for this venture, which will enable the card to serve travel needs depending on stored value of money.

Naidu had set up the committee in 2014 to find a mobility card that would be inter-operable across various transport systems in the country and would also double up as a credit/debit card.

The committee included representatives of National Informatics Centre (NIC), Centre for Development of Advance Computing (C-DAC), Bureau of Indian Standards (BIS), National Payment Corporation of India (NCPI) and the Ministry of Finance.

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The Urban Development Ministry has tasked the National Payments Corporation of India with indigenous development and management of clearing and settlement of payments, simulating cards, terminals and network, a support base of vendors for offering certified tools, cards, terminals as well as other services.

C-DAC has been tasked with developing the standards and hardware for metro gates/validators and related ecosystems, and the government has also approved INR44.7m ($674,767.9) in this regard.

NPCI or any other government agency will be responsible for developing certification and authentication mechanism.