Showing posts with label rupay card launch. Show all posts
Showing posts with label rupay card launch. Show all posts

Sunday, December 7, 2014

A multi-wallet solution to aid NSDC’s mission

A multi-wallet solution to aid NSDC’s mission

Ever since its launch in 2010, the National Skill Development Corporation (NSDC), a not-for-profit public-private partnership, has been trying to re-skill young people with the help of training partners from key industrial sectors such as retail, manufacturing and automobiles in order to make them more employable. It successfully trained 1 million youths aged between 16 and 25 years last year and aims to take the number up to 3.3 million by the end of 2014. In return for training the youths, the training partners take a nominal fee—paid for by trainees from a reward amount they earn from NSDC for completing the training under the Standard Training Assessment & Reward (STAR) scheme, in partnership with the Bank of India. However, problems arose when training partners complained they had not received payments on time—and sometimes not at all. With the incentive to train drying up, NSDC had to quickly find a solution. The solution came in the form of a multi-wallet prepaid payment solution—India’s first— run by TranServ Pvt Ltd, a three-year-old electronic prepaid payments company in association with the Bank of India. This not only ensured that NSDC’s training partners got paid on time, but also helped the youths take charge of their own finances. The multi-wallet solution for NSDC was launched by TransServ’s chief operating officer Aditya Gupta and his team: co-founders Anish Williams who is also chief executive officer; Sandeep Ghule, chief marketing officer; Amar Habibullah, business head for Lucknow region; and Anand Kapadia who heads sales and distribution. The platform, which falls under the firm’s Shmart! flagship brand, was developed in-house by TranServ and was already being used by corporate clients. It was customized within 15-20 days for NSDC and launched on 5 February by then finance minister P. Chidambaram.

Read more at: http://www.livemint.com/Companies/DwUs65IIJYzP9Rr1dpcRvO/A-multiwallet-solution-to-aid-NSDCs-mission.html?utm_source=copy
 Ever since its launch in 2010, the National Skill Development Corporation (NSDC), a not-for-profit public-private partnership, has been trying to re-skill young people with the help of training partners from key industrial sectors such as retail, manufacturing and automobiles in order to make them more employable. It successfully trained 1 million youths aged between 16 and 25 years last year and aims to take the number up to 3.3 million by the end of 2014. In return for training the youths, the training partners take a nominal fee—paid for by trainees from a reward amount they earn from NSDC for completing the training under the Standard Training Assessment & Reward (STAR) scheme, in partnership with the Bank of India.

However, problems arose when training partners complained they had not received payments on time—and sometimes not at all. With the incentive to train drying up, NSDC had to quickly find a solution. The solution came in the form of a multi-wallet prepaid payment solution—India’s first— run by TranServ Pvt Ltd, a three-year-old electronic prepaid payments company in association with the Bank of India. This not only ensured that NSDC’s training partners got paid on time, but also helped the youths take charge of their own finances.

The multi-wallet solution for NSDC was launched by TransServ’s chief operating officer Aditya Gupta and his team: co-founders Anish Williams who is also chief executive officer; Sandeep Ghule, chief marketing officer; Amar Habibullah, business head for Lucknow region; and Anand Kapadia who heads sales and distribution.

The platform, which falls under the firm’s Shmart! flagship brand, was developed in-house by TranServ and was already being used by corporate clients. It was customized within 15-20 days for NSDC and launched on 5 February by then finance minister P. Chidambaram.

Under the multi-wallet solution, TranServ opens two wallets for trainees: one for payment to the training partners, which is not accessible to the trainee, and the other a general savings wallet. The fee for the training partners is automatically deducted from the token sum that the youths are paid every month.

The second wallet is linked to the Bank of India account, and gives the trainee a debit card which can be used at ATMs and points of sale, and also allows them account holder privileges so they can check the balance on phone, enquire about the last few transactions, report loss of card, ask for a statement or new ATM PIN, etc. Alternatively, card holders can check the balance from usage alerts that are sent to their mobile phones after each transaction. The card is issued for two years with the option to have it renewed. Bank of India pays TranServ a fee for this service.

Since March, when the multi-wallet solution was implemented, five lakh students have been enrolled for this solution by NSDC across 26 states. Further, 6,500 business correspondents have been facilitating this programme, with 3,000 applications received per day, making it the largest multi-wallet project in the country. Through this solution, TranServ has helped its 300 training partners recover Rs.200 crore from the total amount of Rs.400 crore due to them, which they are expected to receive by year-end. To ensure security and compliance with the process, TranServ’s multi-wallet solution has been reviewed by four banks: Bank of India, Kotak Mahindra, Ratnakar Bank Ltd and Axis Bank. Besides Bank of India, VISA is also TranServ’s partner for the solution. The so-called ‘benefit disbursement programme’ was chosen as a finalist in Emerging Payments Awards, UK, under the category of the best global government prepaid programme.

The award was created in 2008 to recognize significant and commercial achievements in the prepaid sector. TranServ was also awarded the Aadhaar Governance Award instituted by the Unique Identification Authority of India (UIDAI) in 2012 for its work in large scale financial inclusion and direct benefits transfer (DBT) programmes, enabling real-time transactions through VISA and RuPay, which could also be authenticated by Aadhaar. According to a Reserve Bank of India report in April, only 10-15% of the 369 million debit and credit cards in the company are used for online transactions.

TranServ’s Aditya Gupta believes such multi-wallet solutions could help greatly in increasing the awareness and ease of use of online transactions. Besides, this solution also helps in the government’s plans for financial inclusion by empowering millions of youths to take charge of their own finances, with their own bank accounts, said Gupta.

NSDC hopes to re-skill 500 million youths by 2022. Gupta feels confident that TranServ, with the help of its multi-wallet solution, will be a key finance enabler towards this end, as it prepares for the second phase of the NSDC re-skilling programme due to start shortly.

Sunday, October 19, 2014

Every BPL household to have RuPay card in 6 months

Speaking on the sidelines of the launch of RuPay card at GSC Bank on Tuesday, S K Gupta, chief project officer, RuPay, National Payments Corporation of India (NPCI) said that in six months, every household in the country below poverty line (BPL) will have a bank account and a RuPay card. More than 40 million RuPay cards have been issued in the country till now. "There are 2,000 licenced banks in the country. Earlier, only 50-55 banks could issue debit cards but now around 310 banks are issuing RuPay cards," said Gupta.

RuPay card which was launched 2.5 years back is fully Indian card payment network set up by NPCI. Along with a RuPay card, customer also gets an accidental insurance of Rs 1 lakh, the scheme will be valid till March 2015.

Under Pradhan Mantri Jan Dhan Yojana (PMJDY), three districts in Gujarat have achieved target of opening one bank account in each household. Porbandar, Mehsana and Gandhinagar have reported that at least one bank account of all households has been opened thereby making these areas fully saturated in PMJDY. There are 1.22 crore households in Gujarat, of which more than 95 lakh households have one or more bank accounts as of now. As on October 7, 2014, 5.52 crore accounts have been opened and a deposit of Rs 4268 crore have been mobilized under PMJDY so far.

Guj State Co-op Bank launches RuPay card

amit shah
Gujarat State Co-Operative Bank (GSC) got a new feather in its cap on Tuesday. BJP President Amit Shah inaugurated RuPay ATM and debit card at its head office in Naranpura area in Ahmadabad.
On this occasion, Shah who himself is a cooperator and had been Chairman of co-op banks in the past dwelt on the issue of cooperative movement at length.

The GSC Bank is the apex bank of 18 co-operative banks in Gujarat having more than 1,200 branches across the state. While launching the first ‘RuPay’ ATM and debit card for the bank, Shah said one should not underestimate the capabilities of such banks.

Apart from Gujarat, Shah claimed that co-operative movement is still active in many other states, such as Maharashtra, Karnataka and Rajasthan.

“I know the strength of co-operative movement. This newly launched RuPay card and ATM is just a beginning. Looking at the sheer size and reach of this sector, I am sure that within next 5 years, debit cards issued by co-operative banks will be highest in India,” he said.

Friday, August 8, 2014

BMB rolls out RuPay debit card


 Bhartiya Mahila Bank (logo).jpg

Bharatiya Mahila Bank (BMB) has launched BMB RuPay debit card with an EMV chip. The card was launched by Usha Ananthasubramanian, Chairperson and Managing Director, BMB, in the presence of AP Hota, Managing Director and CEO, National Payments Corporation of India (NPCI), in Mumbai. EMV chip technology is becoming a global standard for credit card and debit card payments. It is named after its original developers — Europay, Mastercard and VISA.

Bharatiya Mahila Bank (Hindi: भारतीय महिला बैंक) (BMB) is an Indian financial services banking company based in New Delhi, India.Former Indian Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 94th birth anniversary of former

Indian Prime Minister Indira Gandhi. Although initially reported as a bank exclusively for women, the bank allows deposits to flow from everyone, but lending will be predominantly for women. India is the third country in the world to have a bank especially for women, after Pakistan and Tanzania.
The bank has been criticized as adopting a segregational approach to gender equality. Uma Shashikant of the The Hindu writes:

Women-only banks are another instance of wanting to treat women ‘differently’. We guise this in many forms, some in garbs of reverence, some as protection, but they are all forms of discrimination that promote gender-based stereotyping. Women-only organisations stem from this eagerness to patronise women in the name of preferential treatment

Monday, July 28, 2014

Himachal Coop Bank launches RuPay Kisan Credit Debit Card

RuPay Credit Debit Card Launched

Shimla: To enable easy credit and debit facilities for the farming community, Himachal Pradesh State Cooperative Bank (HPSCB) today launched the RuPay Kisan Credit cum Debit card.
Bank authorities claimed that HPSCB had become the first cooperative bank in the country to introduce the service for its largely rural customers.

RuPay Credit Debit Card Launched

Launched by chief minister Virbhadra Singh, on the occasion he said, “HPSCB having kept pace with the changing times in banking services like introducing core banking solutions and now launching of RuPay credit debit card would go a long way in providing efficient services to farmers and other customers.”

Chairman HPSCB Harsh Mahajan informed that the Bank through its more than 207 online branches and extension counters was extending prompt and uninterrupted services, particularly to the farming and horticulturalist communities.

Being one of the first cooperative banks in the country to introduce ATM services, the management plans to open four new branches at Golthai in Bilaspur, Gattadhar in Sirmaur, Rajnagar in Chamba and Mandal in Shimla soon.

Besides licenses for starting nine extension counters at Kudu in Shimla, Nanawan and Kothipura in Bilaspur, Bir Road Ahju and Ropri in Mandi, at Obri and Sarol in Chamba, Kamlanagar and Matiana in Shimla have also been granted by Reserve Bank of India, said Mahajan.

Talking about the RuPay credit-debit card, Amitabh Awasthi, managing director HPSCB said that it would facilitate farmers to use their own money or the money loaned from the bank with ease for undertaking seamless transactions for buying agricultural inputs, such as fertilizers, pesticides or mechanized tools such as spray pumps, when required.

Earlier, Harsh Mahajan presented a cheque of Rs. 21,65,760 as dividend for the year 2012-13 and contributed a Rs 51 lakh cheque towards the Chief Ministers Relief Fund to Virbhadra Singh.

Nabard launches RuPay Kisan cards

National Bank for Agriculture and Rural Development (Nabard) today rolled out RuPay Kisan Card and RuPay Debit Card here today.


National Bank for Agriculture and Rural Development (Nabard) today rolled out RuPay Kisan Card and RuPay Debit Card here today.



"This is the first time that RuPay Card, which is in the nature of ATM cum Debit Card, is being issued by any cooperative bank in the state of Haryana," said Nabard Chief General Manager (Haryana) D V Deshpande.

He said the issue of RuPay cards by cooperative banks will enable them to improve their customer service and bring it on par with any other bank to farmers and other customers.

Meanwhile, Haryana Chief Minister Bhupinder Singh Hooda asked Nabard to increase the refinance given to cooperative banks from 50 per cent to 75 per cent.

Speaking on the occasion of its 33rd Foundation Day here today, Hooda said reducing groundwater level and shrinkage of fertile land posed big challenges which could be met by promoting piped and drip irrigation, constructing green houses, promoting dairy and techniques of vertical farming.
Hooda asked Nabard to work at the micro level for the expansion of these techniques and said it should provide finance for setting up water bodies in the state.

He said while Kisan Clubs have been set up in all sub-divisions of the state, there is a need to set up Kisan Clubs in all villages.

"Nabard should extend a helping hand in doing so. These clubs would act as a bridge between NGOs, self-help groups, farmer groups," he added.

Wednesday, May 14, 2014

With RuPay, India builds its own card payment network

President Pranab Mukherjee presenting an award to CEO, ICICI Bank Ltd. Chanda Kochhar during the launch of "RuPay" card in New Delhi on Thursday.

India takes on global players like MasterCard and Visa; Conceived by National Payments Corporation of India, RuPay card is accepted at all ATMs (1.6 lakh plus), 95% of PoS terminals (9.45 lakh plus) and most of the eComm merchants (about 10,000) in the country

New Delhi : President Pranab Mukherjee on Thursday dedicated to the nation indigenous card payment network called RuPay taking on the global players like Visa and MasterCard. It will work on ATMs and merchant outlets and help in reducing cash transactions.

The new payment network developed by the National Payments Corporation of India (NPCI), a not-for-profit company envisioned by the Reserve Bank of India (RBI) and created by the banking industry, covers all the automated teller machines (ATMs) and most of the retail and e-commerce platforms.

The RuPay platform is being used by certain banks like ICICI, State Bank of India, Punjab National Bank, among others, for clearing and settlement. RuPay, which works on three channels — ATMs, Point of Sales (POS) and online sales, is the seventh such payment gateway in the world.  A variant of pre-paid RuPay card would shortly be launched by IRCTC, which will help in booking railway tickets.

“RuPay” is the coinage of two terms Rupee and Payment.  “Dedication of RuPay to the nation is symbolic of the maturity of the payment system development in India,” Mukherjee said after formally launching the card at a function at Rashtrapati Bhavan.  He pointed out that with the launch of new system, India has now ranked among the “few countries in the world to have such a network built domestically to meet the card-based payment system needs of the country.”

The RuPay card is accepted at all ATMs (1.6 lakh plus), 95 per cent of PoS terminals (9.45 lakh plus) and most of the eCom merchants (about 10,000) in the country.

RuPay Scheme provides flexibility to card issuing banks to issue special purpose cards like Kisan Cards, Milk Procurement Cards, Grain Procurement Cards and Financial Inclusion Cards.

A variant of the card called “Kisan Card is now being issued by all the Public Sector banks in addition to the mainstream debit card which has been issued by 43 banks”.   More than 150 cooperative banks and the Regional Rural Banks (RRBs) in the country have also issued RuPay ATM cards. The total number of cards issued as on date is 17 Million and is growing at a rate of about three million per month.

NPCI Chairman Balachandran M said the NPCI board plans to take RuPay card overseas and is already in talks with Discover Financial Services in the US and JDC in Japan for partnership.
Speaking on the occasion, Financial Services Secretary G S Sandhu said RuPay would be available at a cost which is much less than those of international cards.

For clearing and settlement of each transactions, banks will have to pay 40 per cent lower fees in RuPay platform compared to other international platforms. Public sector banks have already installed 25,331 RuPay cards enabled ATMS and 9,000 more ATMs would be installed in the current fiscal, Sandhu said.

Thursday, May 8, 2014

Pranab launches RuPay, India’s own card payment network


President Pranab Mukherjee during dedication of the

President Pranab Mukherjee on Thursday dedicated to the nation indigenous card payment network called RuPay taking on the global players like Visa and MasterCard.

The new payment network developed by the National Payments Corporation of India (NPCI), a not-for-profit company envisioned by the Reserve Bank of India (RBI) and created by the banking industry, covers all the automated teller machines (ATMs) and most of the retail and e-commerce platforms. 

RuPay is the coinage of two terms Rupee and Payment. 

“Dedication of RuPay to the nation is symbolic of the maturity of the payment system development in India,” Mukherjee said after formally launching the card at a function at Rashtrapati Bhavan.
He pointed out that with the launch of new system, India has now ranked among the “few countries in the world to have such a network built domestically to meet the card-based payment system needs of the country.” 

RuPay cards are accepted at all ATMs, more than 90 per cent of ‘Point of Sale’ (POS) terminals and more than 10,000 e-commerce merchants across the country. 

“It is also heartening to note that a few banks have started issuing cards which are accepted internationally through the network of an international partner,” Mr. Mukherjee said.
RuPay Scheme provides flexibility to card issuing banks to issue special purpose cards like Kisan Cards, Milk Procurement Cards, Grain Procurement Cards and Financial Inclusion Cards.
A variant of the card called “Kisan Card is now being issued by all the Public Sector banks in addition to the mainstream debit card which has been issued by 43 banks”. 

More than 150 cooperative banks and the Regional Rural Banks (RRBs) in the country have also issued RuPay ATM cards. The total number of cards issued as on date is 17 Million and is growing at a rate of about three million per month. 

Mukherjee said card—based payment transactions in India is set to grow rapidly in the coming years as the economy matures and internet penetration increases. 

“An indigenous system like RuPay will, hopefully, not only reduce the dependence on cash and cheque modes of settlement but will also make it easier to offer products based on specific requirements of diverse user sets within the country,” the president said.

Wednesday, May 7, 2014

President Pranab Mukhrerjee to dedicate indigenous payment card RuPay to nation


 
RuPay, an indigenous payment card accepted at most retail and e-commerce platforms and all automated teller machines (ATMs) across the country, will be dedicated to the nation Thursday. 


RuPay, an indigenous payment card accepted at most retail and e-commerce platforms and all automated teller machines (ATMs) across the country, will be dedicated to the nation Thursday.
President Pranab Mukherjee is scheduled to dedicate the card payment network to the nation at a function at Rashtrapati Bhavan.

"RuPay" is the coinage of two terms Rupee and Payment. It has been developed by National Payments Corporation of India (NPCI), a not-for-profit company envisioned by the Reserve Bank of India (RBI) and created by the banking industry.

According to an official statement, the RuPay card, launched March 26, 2012, is accepted at all ATMs (over 1,60,000), 95 percent of point-of-sale (PoS) terminals (over 9,45,000) and most of the e-commerce merchants (over 10,000) across the country.

A variant of the card called "Kisan Card" is now being issued by all the public sector banks in addition to the mainstream debit cards issued by 43 banks.

"A variant of Pre-paid RuPay card would shortly be launched by IRCTC," it said.
More than 150 cooperative banks and Regional Rural Banks (RRBs) in the country have issued the RuPay ATM card. The total number of cards issued as on date is 17 Million and is growing at a rate of about three million per month.

"This card symbolizes the capabilities of banking industry in India to build a card payment network so that dependency on international card scheme is minimised," the statement said.


Monday, March 31, 2014

Axis bank launches Kisan Card




Over a decade after the state-run banks launched Kisan Credit Cards, private sector lender Axis Bank today introduced its own card which is aimed at helping farmers access liquidity round-the-clock.

The bank, the third largest from the private sector space in the country, launched the "Kisan Card" through which a farmer can withdraw up to Rs 1 lakh per day from automated teller machines (ATMs), it said in a statement.

The card will be offered to agrarian customers on their cash credit crop loan accounts and will also help them reduce the interest burden as the interest payments start after drawal of the money, it said.

The bank's executive director and head of retail banking, R K Bammi, said at present 90-95 per cent of such customers come to the bank branch for transactions and the bank expects 30-40 per cent farmers to migrate to this alternate channel.

It can be noted that the Kisan Credit Cards scheme was introduced in August 1998 and since then, a host of banks, a majority of them in the state-run space, have launched such cards.

In the statement, Axis Bank claimed it is "first new generation private sector bank to launch an electronic Kisan Card on the RuPay platform."

Tuesday, March 25, 2014

Karnataka Vikas Grameen Bank launches RuPay debit cards




Karnataka Vikas Grameen Bank (KVGB), a Dharwad-based regional rural bank (RRB) sponsored by Syndicate Bank, has launched Rupay debit cards for its customers. 

“Through this card the bank is trying to usher in a revolution by offering technology-enabled services to customers in remote villages,” said Ashok Reddy, Chairman, Karnataka Vikas Grameena Bank.
“The bank has an important role to play in enabling the rural folk, particularly the farming section, to use the RuPay debit card,” he added. 

KVGB has already introduced National Electronic Funds Transfer (NEFT), RTGS and SMS alert facilities for its customers. 

According to Reddy, the services provided by ATM cards introduced by KVGB are on a par with the services of any commercial bank. Currently these ATM cards can be accessed free at the ATM centres of KVGB and Syndicate Bank.

Friday, March 7, 2014

India's NPCI selects Fime for RuPay certification program


National Payments Corporation of India (NPCI), the umbrella organisation of all retail payment systems in the country, has appointed advanced secure-chip testing provider Fime to deliver its RuPay certification programme.

NPCI will utilise FIME's expertise in setting up EMV-based certification board for its card payment scheme, RuPay.

FIME will define the certification specification, laboratory setup, test plan specification, test tools and operate the certification board for RuPay. FIME will also be involved in setting up the certification process including the associated administrative and business operations. This certification board will be effective from March 2014.

This will ensure all payment cards and point-of-sale terminals deployed under the brand align to the requirements of RuPay specifications. It will also ensure necessary infrastructural alignment of acquirers and issuers with the payment system.

Prakash Sambandam, Director of FIME India says: "Many countries have, or are in the process of migrating to the EMV payment standard. Transitioning to a chip payment infrastructure will take time and require the implementation of new product development cycles. Adhering to RuPay, an EMV payment scheme, will ensure that the products achieve the required functional and security standards and perform as intended, once live in the marketplace. This level of compliance is vital to ensure product interoperability and security optimisation".

In addition to enhanced security, the new payment platform presents opportunities to deliver advanced payment solutions - such as mobile and contactless payments - which are based on secure-chip technology.

Prakash further explains: "The deployment of RuPay, an EMV payments technology in India, will create an international transaction framework which will support India's long-term payment needs. This is an exciting time for payments in India and we are delighted to be performing such an integral role in the evolution of this infrastructure."

Friday, October 4, 2013

Vijaya Bank - Rupay KC FI Guidelines

Rupay KC FI Guidelines  


Guidelines for ATM enabled Kisan Debit Card
  1. The ATM enabled Kisan Debit card is issued to the customers having Vijaya Kisan Card account at your branch (CBS) and is linked to VKC account of the customer.
  2. The ATM enabled Kisan Debit Card  is specially designed non photo card launched in association with Rupay a Domestic payment branch promoted by NPCI
  3. The card is issued free of charge and is valid for 10 years
  4. The cardholder can withdraw cash from all the ATMs of our bank and other bank’s Rupay Branded ATMs.
  5. The Kisan Debit card also can be used at merchants for the purchase of items required for agriculture activity only*.   To restrict the use of Kisan Debit card for agriculture purpose, an undertaking letter is to be obtained from the VKC customer applying for Kisan Card. A Performa of the undertaking letter is enclosed herewith.
  6. The existing limits of Debit Card for cash withdrawal at ATMs ,Merchant transactions and number of financial transactions are applicable in case of Kisan Debit card also subject to not exceeding the drawing power/seasonal sub limits fixed for VKC a/c of the cardholder. 
ATM cash withdrawal limit per day
Rs 30,000/-
Merchant transaction limit per day
Rs 25,000/-
No of transactions per day (financial)
10
  • The drawing power for the Kisan card account will have to be fixed by the branch depending upon the crops cultivated, area under cultivation and scale of finance. The guidelines for opening and maintaining drawing power on Kisan Card account has been framed by the HO – credit priority by way of circulars has to be complied with.
CHARGES/FEES
Card Fee
Fresh card issuance
Free
Hotlisting of the card
Rs 50/-
Card replacement
Rs 100/-
PIN regeneration
Rs 25/- per request
Cancellation charges (Applicable if cancelled in the   first card year)
Rs 100/-  
 *Applicable S. T Extra

Transaction charges
Vijaya Bank’s ATM cash withdrawal & balance Enquiry/mini statement/ PIN change
Free
Other bank’s Rupay  ATMs*   
Cash
Balance Enquiry

Rs  20/- per transaction
Rs    8/- per enquiry

  • Applicable S. T Extra. (Since the Accounts are treated as Current Accounts in
Nature, no exemption from charges is eligible for kisan debit cards for using other bank ATMs.)
Other Charges
Charges for request for copy of chargeslip  *
  • for transactions at our merchants
  • for transactions at other banks merchants

Rs 100/-
Actuals with a minimum of Rs 100/-

    *Initially Rupay cards are enabled for ATM Usage only till a separate communication on enabling the card for POS transactions is issued.
                                                                                                         
PROCEDURE FOR ISSUE OF KISAN DEBIT CARD
  • For the issue of ATM enabled Kisan Debit card, an application is to be obtained from the VKC customer. The existing Debit card application.  may be used for this purpose. In the Debit Card application ‘Application for Vijaya Global Debit cum ATM card’ may be modified as ‘Application for Kisan Debit Card’, with due authentication from the customer. The original application obtained should be retained with the branch only.
  • For sending the data to Debit Card Cell, the same procedure as applicable in case of Debit Card is to be followed. Since Rupay Kisan Debit card is a non -photo card, branches has  to mark Y in freetext6 field of the VKC A/c of the applicant.
  •  As in the case of Debit Cards, the Kisan cards will be sent to the branch & & PIN mailers to customer address through separate couriers.
  • As soon as the Kisan Card & PIN mailers are received at the branch, the same have to be entered in the Debit Card & PIN Mailer Issued Register. Some pages of the existing Register may be used for Kisan Cards. 
  • Before delivery of Kisan Card to the customer, the card is to be activated by marking E (replacing Y) in the VKC a/c of the customer and authorizing the same.
  • Since the ATM enabled Kisan Debit Cards are issued with Debit Card PIN, the rules and regulations on Debit Card are applicable to Rupay Kisan Card also. The guidelines on issuance of debit cards as per HOC 29/2008 dated September 2, 2005 and 35/2006 dated February 20, 2006 as applicable to Kisan card should be strictly complied with. 
Dispute Resolution
As the transactions are debited ONLINE, any dispute relating to a transaction should be reported by the cardholder in writing to the branch/Credit Card Division, HO, and Bangalore within 30 days from the date of transaction. Terms of HOC 263/2011 will be prevailing on handling the disputes received at the branches in this regard.

Uttarbanga Kshetriya Gramin Bank - RuPay Debit Card Details

RuPay Debit Card

We are pleased to introduce you Uttarbanga Kshetriya Gramin Bank RuPay Debit Card which provides you anywhere, anytime banking facilities. Having this card in your wallet is like carrying your bank account with you wherever you go. This card comes with enhanced security feature as it is a PIN based card i.e. PIN is mandatory in order to perform transactions* at Merchant Establishment (POS) and ATMs.

Your Uttarbanga Kshetriya Gramin Bank RuPay Debit card entitles you:
  • Rs. 40000.00 daily ATM cash withdrawal limit
  • Uttarbanga Kshetriya Gramin Bank RuPay Debit card enables you to access over 2000+ Central Bank / Uttarbanga Kshetriya Gramin Bank ATMs spread across the country. You can also use your Uttarbanga Kshetriya Gramin Bank RuPay Debit card at 1,00,000+ ATMs under NFS network in India. Presently, this card can be used at select Merchant Establishments (POS) displaying RuPay logo.
  • 24-Hour Customer Service: You can contact our Toll Free No. 18002001911/1800221622 round the clock for any assistance regarding your Uttarbanga Kshetriya Gramin Bank RuPay Debit card.
 * Transactions at Merchant Establishments have not started yet.

On receipt of your card, please:
  • Sign on the signature panel at the back of your card to prevent any misuse of the card
Fees and charges*:
  • Issuance Fee: NIL
  • Annual Fees: NIL
  • Duplicate card on account of loss of card: Rs. 200.00
  • Card Replacement fee: Rs. 200.00
  • PIN Replacement fee: Rs. 50.00
  • Hot-listing of card fee: NIL
  • Transaction charges at Uttarbanga Kshetriya Gramin Bank/Central Bank of India ATMs: NIL
  • 5 transactions (Financial & Non-financial together) free on other bank ATMs for Savings Bank account holders, in a calendar month. 6th transaction onwards a flat charge of Rs. 18.00 (inclusive of service tax) will be levied to customer’s account.
* All fees and charges are inclusive of service tax.

Eligibility criteria: (Please choose from the below list or add more eligibility points)

The eligibility criteria for RuPay Debit card is:
  • Literate Individual Account holders having their A/Cs (Only SB, OD and NF A/Cs) with us. 
Debit Cards cannot be issued under following conditions:
  • Account types with operating instruction other than of “self”, “Either or Survivor” or “Sole Proprietor”
  • Visually impaired persons holding account jointly.
Added features on RuPay Debit card: (Please choose from the below list or add more features)

  • Loss or Damage of the card: In case of loss or damage of the card, please inform the branch as well on the Toll-free No. 18002001911/1800221622 immediately so that the card will be blocked to ensure safety of your funds.

Bank of Baroda - Rupay Card Details


 
RuPay Debit Card
We are pleased to inform the launch of India’s First Domestic Card -RuPay Debit Card in co-ordination with NPCI. Presently RuPay Card can be used at ATMs and selected POS in India only.

Key features of RuPay Debit Card:
  • It can be used only with PIN hence a more secured debit card.
  • No threat of card misuse when lost/stolen.
  • Card would be accepted only at secured PIN based POS terminals.
  • Cash withdrawal limit at ATMs is Rs 25,000/- per day.
  • Spend limit at merchant outlets (POS) is Rs 50,000/- per day.
  • Available to all customers eligible for debit card issuance.
Target customers:
 
  • All Saving Bank Account holders (existing and new).
  • Baroda Advantage Current Account holders (existing and new)
  • OD against Bank’s Own Deposit and OD against NSC, KVP, LIC etc (existing and new).
  • No frill Accounts.
 
RuPay Debit Card can be accessed/used as under:
  • More than 2,000 Bank of Baroda Interconnected ATMs spread across major centers in the country.
  • Member banks (100 plus) of National Financial Switch having more than 1,00,000 ATMs in the country.
  • NPCI member bank ATMs all over the country bearing RuPay logo.
  • For convenient shopping, dining out at selected outlets accepting RuPay Cards in India.
  • RuPay Debit Cards have the additional security of PIN based authorization even for transactions made at Merchant outlets.

Lakshmi Vilas Bank - Details of Rupay Card


 
Rupay ATM Card  
 

The advent of technology in Banking Industry paved the way for introduction of safe, secured and hassle-free electronic payment products. The spending pattern of consumers has boosted the growth of Indian Payment Card market including credit, debit and prepaid cards. Banks have tied up with internationally acclaimed networks like VISA Worldwide, Master Card and American express to improve their retail banking space and bottom line.
Using RUPAY card our customers can access all ATMs under NFS network for cash withdrawal, balance inquiry, mini statement and PIN change across our nation.

Advantages of RUPAY card:
 
·         Suitable for customers who needs card only for ATM operations.
·         Using RUPAY card customer can access all ATMs under NFS network/CashTree network.  ( The Rupay card can be used in 98000 + ATMs of 66 members Banks across the country. )
·         Card renewal charges will be waived for RUPAY cards.

Other Points:
 
1.     Rupay card will be issued to new account holder who are not having any cards  of our bank. will not be issued as replacement for our ATM/VISA Debit Cards.
2.     Rupay card issuance will not support migration from other cards like VISA Classic, VISA Gold etc.
3.     All dispute management related to Rupay Card is as same as VISA Cards

Thursday, August 8, 2013

NPCI launches chip-based debit cards for improved security

With the aim of providing better security to card holders, payment service provider National Payments Corporation of India (NPCI) has rolled out chip-based debit cards under the RuPay brand.
The chip card has to be inserted into the machine so that the user can key in a unique PIN to complete the transaction, which enhances the security level. The chip cards are based on international specifications that provide protection to banks and customers against card skimming and counterfeiting frauds, NPCI said in a statement. 

Bank of Baroda and Saraswat Co-operative Bank are the first two banks to issue these cards.
The card will be accepted at all channels including ATMs, point of sales (PoS) machines, e-commerce and now EMV (card standard developed by Europay, MasterCard and VISA) chip and pin cards across the globe. 

A. P. Hota, Managing Director and CEO, NPCI, says, “RuPay, a benchmark card scheme of NPCI, offers both modes of chip card — full EMV issuance and quick EMV issuance that will offer all the safety measures required of a next-generation card payment system.” 

Most banks are likely to opt for Quick EMV issuance of the RuPay card as there is no additional fee prescribed in it and also to meet the deadline of November 30 as prescribed by the Reserve Bank of India, to be issued by banks to all customers opting for international cards. Additionally, the Quick EMV option requires minimal changes at the banks’ host system to be borne by lower cost. Whereas, full EMV issuance entails higher cost and a much longer time, the company said.

Monday, July 15, 2013

Co-operative banks may get a breather in Rupay Card launch

Cooperative banks are likely to get more time to comply with the new regulations of Reserve Bank of India (RBI) on banking operations as neither the Central government nor the regulatory bank has completed the preparations to switch over to the new payment regime.

The RBI had set June 30 as the deadline for cooperative banks to abide by a four per cent capital adequacy norms and insisted that cooperative banks should make agriculture lending through RuPay cards. The RuPay-enabled credit card is the Indian domestic card payment network set up by the National Payment Corporation of India. The RBI had said that core banking solutions should be introduced in the primary cooperative banks through the District Cooperative Banks and agriculture lending should be routed through RuPay cards. On insisting to ensure four per cent capital adequacy, the banks will have to maintain a capital of Rs.4 for every Rs.100 lent. This was proposed to be progressively increased to seven per cent by 2014 and nine per cent by 2015. Non-compliance would have lead a total freeze on the banking operations and agriculture lending would have been the first casualty.

Banking sector sources told The Hindu here that neither the Centre nor the RBI had issued any instruction so far on the action to be initiated against the banks which had not moved over to the proposed payment system. This was mainly on account of the delay in distributing the RuPay cards and also completing the work on core banking solutions. It may take at least a year to complete such procedures and the cooperative sector would get a breather till then.

The distribution of Kisan Credit Cards (KCCs) had also not made much headway in the State since September last. As per the statistics available on September 30 last, 6,94,406 cards were distributed through cooperative banks and 1,49,279 cards through Regional Rural Banks. 

When compared to other States, Kerala has a unique cooperative movement with a strong network of 1,603 primary banks and 14 district banks that come under the apex State Cooperative Bank with deposits to the tune of Rs.82,000 crore. A lion’s share of the deposits, roughly about Rs.60,000 crore, have been mobilised by the primary banks which cater to the primary financial needs of small, medium, and marginal farmers as well as traders and others at the grass-roots level.

Kerala will thus perhaps be the only State to be hit hard by the guidelines. But it may not be able to garner the support of other States to mount pressure on the Centre for an exemption from the regulator bank, sources said.

Vijaya Bank promotes RuPay-branded debit cards in Gujarat

Vijaya Bank has enabled its merchant terminals for usage of RuPay-branded debit cards in Gujarat, urging customers to make use of the new indigenous payment facility.

A function was held at its Regional Head Office here to enable merchant terminals in the use of RuPay-branded debit cards. 

Ajay Kumar Khurana, Regional Manager, said with the enabling of the bank’s ATMs and POS terminals for the RuPay brand, Vijaya Bank has joined the league of banks whose payment and settlement systems for domestic card transactions are settled within the country. 

RuPay is an indigenous payment and settlement system that was developed by the National Payments Corporation of India (NPCI) in October. 

So far, Vijaya Bank has issued two variants of the card, i.e. RuPay debit card for financial inclusion projects and general customers and Kisan debit cards for the farming community. 

Till now, the usage of RuPay cards was restricted to ATMs. With the activation of the bank’s POS terminals with the RuPay brand, RuPay card usage has been extended to ME terminals. Apart from payment services on the card, NPCI is supporting banks in India for other alternate delivery channels such as mobile banking, IMPS, cheque truncation and NEFT/RTGS services. 

Vijaya Bank Chairman and Managing Director H. S. Upendra Kamath launched the RuPay debit card in Bangalore last week in the presence of NPCI CEO A. P. Hota, the release added.

Wednesday, June 26, 2013

RuPay cards can be used online

Account holders in rural banks and small cooperatives can now make online purchases with the National Payment Corporation of India launching an e-commerce solution for its RuPay card. RuPay is India's answer to Visa and MasterCard and has been set up at the behest of the Reserve Bank of India (RBI) to bring down transaction costs and spread electronic payments.



"Functionality across ATMs, credit card point of sale terminals and over the internet are the holy trinity of any electronic payment service. Until now, the card could be used in ATMs and as a debit card only. Now, with the e-commerce platform also available, banks should have no reluctance in issuing RuPay cards," said A P Hota, MD & CEO, NPCI.

Over 30 lakh RuPay cards have been issued since it was launched in March 2012. RuPay debit cards are being issued by 20 commercial banks, 32 RRBs and over 75 co-operative banks. As against this, commercial banks have already issued over 30 crore debit cards, most of them on the Visa and MasterCard network.

What makes RuPay transactions distinctive from Visa or MasterCard transactions is that the ATM pin number doubles as the secure code since RuPay manages both the ATM and e-commerce network.
Speaking at the launch, H R Khan, deputy governor, RBI, said that the objective was to ensure that RuPay transactions touched every Indian by 2020.

"The whole purpose of a payment system is to reduce the use of cash. One of the unintended consequence of increasing the number of ATMs has been that demand for cash has actually gone up," he said.
Khan said that RBI has directed banks to improve the security level on cards by introducing a chip and pin-based payment system by end-June 2013. "We will be reviewing the progress in the next couple of days," he said.

The company will set up machines and earn revenues from fees for every transaction from the card-issuing bank.