wordpress blog stats
Connect with us

Hi, what are you looking for?

RuPay credit cards to be launched in a month: NPCI

The National Payments Corporation of India said that it will be launching RuPay credit cards in a month’s time, a spokesperson confirmed to MediaNama. This was first reported by Business Standard. The spokesperson said that the NPCI is running a pilot project with 10 banks but declined to give further information.

However, it looks like IDBI Bank is first off the mark to issue RuPay credit cards and launched ‘Winnings’ Select Credit Card, as indicated by this Orissa Diary report.

Although RuPay accounts for around 40% of debit cards in circulation, the NPCI is still yet to enter credit cards. Note CEO AP Hota had told MediaNama that RuPay credit cards would be launched around November 2016. But it looks like the launch was postponed with the demonetization of Rs 1,000 and Rs 500 notes.

NPCI declined to give information on the merchant discount rate (MDR) retailers and businesses will be charged. However, the credit cards will come in three variants: Select (targeted at the affluent segment), Platinum (targeted towards the youth), and Classic (targeted for the masses).

Typically, banks charge a lower MDR for credit cards aimed at the mass segment and a higher rate for cards such as Platinum cards but consumers get more rewards for usage. MDR is an inter-bank exchange fee banks can charge merchants and establishments. However, Balachandran M, chairman of the NPCI told Business Standard that it will charge a fixed fee for the product and the cost of a transaction is lesser than the existing products in the market.

Advertisement. Scroll to continue reading.

The cards will also feature:

  • Domestic and international airport lounge access.
  • Domestic and international merchant offers.
  • Cashback on payment of utility bills, at eateries and restaurants.
  • Personal accident insurance cover.
  • Domestic and international concierge services.

The total number of credit cards in circulation stood at 31.32 million for the month of April with HDFC bank leading the pack with 8.7 million cards followed by State Bank of India (4.68 million) and ICICI Bank (4.28 million).

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...


By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ