The Indian Government has urged public sector banks to issue RuPay debit cards to all its existing customers, who do not have debit cards and also to new customers.
In a communiqué to banks, the finance ministry has also asked merchants to install point of sale terminals for RuPay cards.
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RuPay is a card scheme launched by National Payments Corporation of India (NPCI) in 2012.
The move is part of government’s plan to promote the RuPay cards amidst the well known Visa or MasterCard.
NPCI CEO and managing director AP Hota was quoted by The Economic Times as saying that the government’s focus is to promote financial inclusion.
"RuPay is a fully functional card payment system. We are also launching Platinum cards for HNI customers," Hota added.
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By GlobalDataTill date, around 20 million RuPay cards have been issued.
RuPay chief project officer SK Gupta said: "It has full acceptance in ATMs, and of the 10.35 lakh POS (point of sale) terminals in the country, RuPay can be accepted in 9.87 lakh terminals. About 95% of debit card transactions are domestic in nature."
