The National Payments Corporation of India's (NPCI) card network RuPay has launched a contactless prepaid NFC card. Recently, it launched a contactless card for the Ahmedabad Smart City project in association with ICICI Bank and Ahmedabad Municipal Corporation. It also launched similar prepaid contactless cards for the Kochi Metro Rail Ltd (KMRL) and Bangalore Metropolitan Transport Corporation (BMTC) in association with Axis Bank. NPCI said that plans to launch more such transit and smart city projects on the RuPay contactless program along with banks. RuPay's contactless card is an interoperable, open-loop EMV based product where amount users can add money to the card through various payment modes such as cash and internet banking. In open-loop cards, users will be allowed to withdraw cash from ATMs as well. The cards can be used at payment applications, including transport (City Buses, BRTS etc.), toll, parking, municipal payments, utility payments and retail. For payments lower than Rs 2,000, customers can simply tap their card on the NFC terminal and no second-factor authorisation is needed through PIN as per Reserve Bank of India (RBI) guidelines. NPCI takes over the National Common Mobility Card The NPCI added that RuPay's contactless cards are designed in line with the National Common Mobility Card (NCMC) guidelines as envisioned by Ministry of Urban Development (MoUD). It's worth noting that the UTI Infrastructure Technology and Services Ltd (UTI-ITSL), the Government of India company which was running the NCMC, had surrendered its wallet license earlier this year. In November 2016, Minister of State for Railways, Rajen Gohain said that NPCI…
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