RuPay credit cards likely to be rolled out in a month: NPCI

National Payments Corporation of India (NPCI) hopes to do a full-fledged commercial launch of its RuPay credit cards in a month’s time.

The nodal agency for digital payments in the country is doing a pilot project with about 10 banks, for use of Rupay credit cards among their customers.

“We are taking feedback from them to strengthen the system before the rollout. Maybe in a month’s time, we will do the commercial launch of the credit cards,” M Balachandran, Chairman, NPCI, said here.

The RuPay credit card will come in three variants — classic, platinum and select.

“We expect banks that are bullish about credit card business and ones that have been waiting to enter this segment to opt for RuPay credit cards. Feature-wise, our credit cards are as good as other products,” said AP Hota, Managing Director and Chief Executive Officer, NPCI. Select, the high-end variant of the RuPay credit card, will offer an insurance cover of ₹10 lakh and it will be accepted internationally.

“Our basic aim is to make the RuPay card a complete product. First, we had RuPay card working on ATMs. Then, we made it work on PoS (point-of-sale) machines. Third was the e-commerce platform, and the fourth level is to make it work in the international market. With a credit card variant, it is complete now,” Hota added.

Features and benefits of other credit cards vary from one bank to another. But, the features of RuPay credit cards will be the same irrespective of the banks.

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