RuPay Card base to touch 25 mn by Mar: NCPI The National Payment Corporation (NPCI) plans to almost double the number of RuPay Cards, the homegrown rival to Visa and MasterCard, to 25 million over the next two months. We have so far issued 14 million RuPay cards, and this will touch 25 million by the end of March, NPCI Managing Director and Chief Executive Abhay P Hota said. About the quick acceptance, he said, for all the stakeholders it makes immense business sense as NPCI charges just 90 paise as the fee per transaction -- 60 paise from the merchant and 30 paise from the issuing bank -- with the same kind of security; the same on a Visa or MasterCard is as high as Rs 4. Our switching fee is only 60 paise for acquiring banks and 30 paise for issuing banks per transaction, Hota said. So far three banks -- Bank of Baroda, Central Bank of India and Saraswat Bank -- have issued the RuPay international debit cards, being offered with the California-based Discover Financial Services.
Posted on: Mon, 03 Feb 2014 05:28:33 +0000
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