The number of RuPay Cards, issued by the National Payment Corporation of India (NPCI) as a local competitor to Visa and MasterCard, will be increased to 25 million by March 2014.
NPCI managing director and CEO, Abhay Hota, said they have so far issued 14 million RuPay cards, and this will touch 25 million by the end of March.
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Launched in April 2012, the domestic debit cards were issued by over 210 banks including all public sector banks and some of the private sector banks.
Hota said the two of the largest foreign lenders, Citi and HSBC, will join the RuPay system by July.
"Today our cards are accepted on all ATMs (1.45 lakh), 8.4 lakh merchant terminals and 70 per cent of the e-commerce merchants," Hota added.
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