NPCI plans more tie-ups to strengthen global acceptability of RuPay debit cards: Report

National Payments Corporation of India (NPCI) is exploring options for further tie-ups to strengthen the global acceptability of RuPay debit cards to get it at par with Visa and Mastercard, reported PTI.

Currently, RuPay cards are accepted at the points of sale machines powered by Discover of the US, Diners Club, JCB of Japan, Pulse and Union Pay of China.

In March 2012, RuPay went into a tie- up with Discover Financial Services to bring international services to Indians and went global.

RuPay in July 2019, strengthened its network capabilities by launching RuPay JCB Global Card in association with JCB International Co Ltd.

The RuPay JCB Global card can be used at RuPay card accepting points in India and JCB card accepting points outside India for PoS, E-Commerce and ATM.

RuPay

RuPay, a product of NPCI, is the domestic card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India.

Centre allots Rs 2,600 for promotion of RuPay

Earlier this year, the Union Cabinet approved a scheme worth Rs 2,600 crore for the promotion of RuPay debit cards and low-value BHIM-UPI (Bharat Interface for Money- Unified Payments Interface) transactions.

Under the scheme, the banks are provided financial incentives to foster Point of Sale (PoS) devices and e-commerce transactions using RuPay and UPI.

The scheme is aimed at building a robust digital payment ecosystem and promoting UPI Lite and UPI123PAY as economical and user-friendly digital payment options.

With inputs from PTI