RUPAY CONTACTLESS CARD 

  NO MDR CHARGES FOR  RuPAY DEBIT CARDS    FROM 1ST,  JAN20 :  FM  

Dated  29.12.2019 : Ms Nirmala Sitharaman , Finance Minister , has announced  that there will be no MDR Charges (   Merchant Discount  Rates )   on Digital  transactions of Rupay  and UPI platforms  from January 1st, 2020  onward  .    Department of Revenue  will shortly notify   Rupay and UPI  as  Platforms without MDR charges for merchants   .  

RUPAY CONTACTLESS CARD

Prime Minister  Mr Narendra Modi launched  Rupay contactless card  , also called   NCMC (  National Common Mobility Card  )  in Ahmedabad  on  04th march  2019  under the slogan  " One Nation One Card  "     . The card  is developed by   National Payments Corporation of India (NPCI)   under the brand name Rupay  .   The contactless  card    enables small value transactions like  Bus or Metro fare   along with all other   regular debit card / credit card functions like on-line payment , retail transactions and ATM payments .   


​RuPay Contactless is an open loop EMV based payment product from NPCI . This advanced and secure card can be used for all payment applications, including transport (Metro, Bus etc.), toll, shopping etc. In payments lower than Rs.2,000 the customers can simply tap their card and the transactions are processed with a blink of an eye. No second factor  authorization is needed through a PIN.
 

 OBJECTIVES OF THE GOVERNMENT 

  National common mobility card ( NCMC  ) was first conceptualized in 2006 by Government of India under   National Urban Transport Policy (NUTP). and now is part of Make in India   programme  .  The task of development of card was given to   National Payment Corporation of India . 
​
The objectives of the development of national contactless card included   

1. to develop a   local mechanism  for including low value payments along with the usual functions . 

2. to make it usable across Indian banks , payment methods , merchants and    transport  operators . 

3. to reduce dependence on cash for making any type of payment . 

USES OF RUPAY CONTACTLESS CARDS 

The card can be used for transit payments  ( for bus , metro , train  , taxi etc )  , Retail payments  in commercial establishments , shops , restaurants  , parking lots , tolls  etc , and to withdraw cash from ATMs . The card can also be used for on-line payments  . It can be used as a   with  contact card or as a  contactless card .  The card can be   issued    either as Debit Card or as Credit card  or as  a prepaid card  / wallet   at the option of  the issuer .  

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  PRESENT ISSUERS OF RUPAY  CONTACTLESS CARDS

The following  Bankers   are issuing Debit cards   using Rupay Contactless Platform    : 

1.  Punjab National Bank 
2. The Saraswat Co operative Bank 
3.  TJSB Sahakari Bank 
4.  Bank of Baroda  
5. Union Bank of India 


 Following Partners are issuing   Prepaid cards  / wallets 
1.   I.C.I.C.I Bank 
1.   Axis Bank 
1.   HDFC Bank 
2.  State Bank of India
3.  Catholic Syrian Bank 
4.   Yes Bank 
5.  Andhra Bank 
6.  One97 communications Ltd  ( Paytm )

HOW TO USE  CONTACTLESS CARDS  ? 

  The Rupay contactless card  can be used  for  our regular     transactions in ATMs  or payments in shops with card reading machines   just like any other card by inserting / swiping in ATM  machines  / Card readers  .   On-line transactions will also be like with any other card .

However   where card is used in contactless  mode  , you have to activate the terminal first and the cashier must enter the payment amount to activate the contactless terminal. In addition, the card or device has to be held within 2 cm (1 inch) of the terminal.  In payments lower than Rs.2,000 , the customers can simply tap their card and the transactions are processed  automatically . No second factor  authorization is needed through a PIN.

USEFUL LINKS 
​

1. National Payments Corporation of India   
2. Reserve  Bank of India  for Master Direction 
​3. National Payments Corporation of India  for FAQ 

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