National Payments Corporation of India (NPCI)’s domestic card payment scheme RuPay is getting more adoption from online merchants: It has tied-up with Amazon and Jet Airways, enabling RuPay debit card holders to make online transactions on the respective sites, reports The Paypers.
Earlier in the month, RuPay had also roped in (pdf) online merchants including LIC, Flipkart, IRCTC, Snapdeal, BookMyShow and HomeShop18, enabling RuPay card holders to make transactions on the respective site. NPCI had mentioned users can book train tickets on IRCTC, make online premium payments on LIC, book movie tickets on BookMyShow and shop on Flipkart, Snapdeal and HomeShop18.
In addition, State Bank of India has also started accepting RuPay cards on its payment gateway. The bank had launched a payments solution targeting merchants called SBIePay in March this year.
RuPay’s e-commerce solution was launched by NPCI in June last year, enabling users to make online reservations, booking, ticketing, shopping, and utility bill payments among others. The company had partnered with the US-based online payment service provider Acculynk, which was responsible for providing authentication for all its online transactions. More on RuPay roadmap here.
NPCI MD & CEO AP Hota claims that over 15,000 merchants have adopted RuPay until now and around 30 million RuPay cards have been issued in the country as of now. He mentioned that these cards are also enabled at all ATMs and 9.8 Lakhs POS terminals across the country.
Pradhan Mantri Jan Dhan Yojana: The consumer adoption of RuPay cards is expected to further increase, considering that it is included in the Indian government’s Pradhan Mantri Jan Dhan Yojana scheme. As per the scheme, each of the bank account holders will also get a RuPay debit card.
However, NPCI is apparently struggling to issue RuPay cards due to sudden demand from the scheme, thereby resulting in a huge backlog. Hota told Livemint last month that this backlog was due to a lag in the production of cards that typically require three weeks. He mentioned that this backlog will likely be cleared within three weeks. As of last week, 3.07 crore RuPay debit cards have been issued through this scheme, which is less than half of total number of accounts opened that stands at 6.47 crore accounts.
(With Inputs from Vikas SN)