NPCI will expand RuPay Credit Card, emphasis will be on adding new customers

NPCI will expand RuPay Credit Card, emphasis will be on adding new customers

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new Delhi. National Payments Corporation of India i.e. NPCI is focusing on adding new customers for the expansion of indigenous RuPay based credit card. A top official of the company said this.

Praveena Rai, Chief Operating Officer (COO), NPCI said, “If you look at credit cards, we have entered this market recently and we are looking at the market share of new customers. In the last 18 months, about 12-15 percent of new credit cards are being issued on RuPay.

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NPCI provides the facility of Retail Payments and Settlement in India through RuPay Gateway. It is an initiative of Reserve Bank of India (RBI) and Indian Banks Association (IBA) to build a robust payment and settlement system.

Rai said, “It is important for us to expand the reach and distribution of RuPay cards. RuPay is a strong player in the debit card and prepaid card space. We are now focusing on making a strong entry in the credit card space as well.

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Credit card market in India has reached 65 million
He said, “The credit card market in India has grown from about 4-4.2 crores to about 65 million credit cards in the last two years. We are confident that we will be able to meet this demand in the market.

Tags: credit card, NPCI, RBI, Rupay

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