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September 8, 2015

NPCI to roll out three new cards

The National Payments Corporation of India (NPCI) is planning to introduce three new versions of the RuPay card within next one year.

By Verdict Staff

The National Payments Corporation of India (NPCI) is planning to introduce three new versions of the RuPay card within next one year.

The cards to be launched include a Mudra card, a credit card and an international card, NPCI chairman M Balachandran said.

The Mudra Bank co-branded card will be launched in partnership with Mudra Bank, and will be mainly targeted at micro entrepreneurs.

For the international card, NPCI has joined forces with Discover Network Merchants, which operates Diners Club International.

Moreover, the company is in final stages of talks with China UnionPay (CUP) and Japan Credit Bureau (JCB) for use of each other’s payment networks.

Under the alliance with the credit bureaus, their cards will be allowed to be used in India through the NPCI network, while RuPay cards will be allowed access in any part across the globe through their network.

RuPay, a card payment settlement system launched by NPCI, is presently being issued as debit and Kisan cards.

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