Showing posts with label unionpay. Show all posts
Showing posts with label unionpay. Show all posts

Monday, May 29, 2017

JCB cards get access to ATMs & POS terminals in India via NPCI, Rupay



The National Payments Corporation of India (NPCI) has enabled acceptance of JCB debit and credit cards at ATMs and POS terminals in India, through the National Financial Switch and the Rupay Network. JCB is a credit card issuer and acquirer in Japan, with a card acceptance network across 190 countries and territories, and this launch targets tourists and business travellers from Asia, where JCB This will allow a global card base of 101 million JCB card members (across 23 countries and territories) to pay and withdraw money in India, across 225,000 ATMs and over 2 million Point-of-sales terminals, according to a note from the NPCI. Following this partnership, 32 banks will accept JCB cards on ATMs, and two banks on POS. The formal announcement of this launch follows a pilot project in February with ICICI Bank, Union Bank of India and Indian Bank for JCB credit and debit cards acceptance, and with Axis Bank and ICICI Bank for POS acceptance. No target date for enabling 100% reach for ATMs and POS terminals has been specified by the NPCI.
This is particularly interesting, because it is the connection of two country specific networks independent of Visa, MasterCard and American Express; Rupay was built as a network independent of the two global networks, essentially to lower the cost of transaction, and as if in opposition to them, similar to what China did with UnionPay. On its website, NPCI reasons that since the transaction processing will happen domestically, it would lead to lower cost of clearing and settlement for each transaction.
The link between the two payment networks will also allow NPCI member banks (which is pretty much every major bank), to issue co-badged RuPay-JCB International cards, which will work as RuPay cards in India and JCB cards outside the country. According to the NPCI website, the Rupay Global Card currently works with Discover, Diners and Pulse networks in the Asia Pacific region, Europe, Middle East and Africa, North America and Latin America. In the UK, it works with DC Payments, Moneycorp, Travelex, Youtcash and Cardtronics ATMs.

Wednesday, August 26, 2015

Now, Shop with IRCTC RuPay Card

Now, Shop with IRCTC RuPay Card

Now passengers can do shopping by using the IRCTC RuPay prepaid card as Indian Railway Catering and Tourism Corporation has expanded its range of service.

IRCTC Union Bank Prepaid Card was launched in collaboration with the Union Bank of India and the National Payment Corporation of India in May.

Till now, the card was used only for rail bookings.

The services are now being extended to allow payment at merchant locations like restaurants, malls and also for online shopping as we have got the necessary permission for expansion of the service, IRCTC chairman and managing director A K Manocha said.

The card allows for easy transactions on the railway booking website, with the first five transactions each month offered free of transaction charges, and an attractive rewards point system on every transaction.

"The IRCTC Union Bank Prepaid Card has already notched up 7,000 users since its launch, and the number of prospective users is showing an upward trend," Mr Manocha said.

A PSU of the Railway Ministry, IRCTC had recently tied up with Amazon, a leading e-commerce company, to offer its customers the online shopping opportunities in addition to its regular travel ticket booking and hotel accommodation booking services.

"The IRCTC Union Bank Prepaid Card will further expand the online shopping preferences of our patrons, besides online rail ticketing," Mr Manocha said.

Friday, June 12, 2015

‘55% of RuPay cards active under Jan Dhan Yojna’

 AP HOTA, MD and CEO of NPCI

Exploring the feasibility of networking with China, says NPCI chief

As India’s own card-payment scheme RuPay aims to go global, National Payments Corporation of India (NPCI), which conceived and launched the scheme, has tied up with Chinese and Japanese companies to help citizens of these countries use Indian ATMs and Point-of-Sale terminals. AP Hota, Managing Director and CEO of NPCI, says the corporation plans to take this one-way relationship further and bring more activity into the home-grown card network. Edited excerpts from an interview:

How will the tie-up with China UnionPay International be beneficial?
We are exploring the feasibility of network-to-network relationship with China. Initially, the relationship will be one-way, that is, China’s UnionPay card-holder when they come to India can use Indian PoS terminals and ATMs. Currently, all the ATMs and 99 per cent of PoS terminals are part of NPCI.
Next, we will look at commercial arrangements between NPCI and China Union. They will have their approval and we will now seek approval from our member-banks and we can expect this in the next two months.
Later, the technical integration will be done and, in anticipation, we have already started the process. We may look at going the other way later — that is, our card-holders can use ATMs and PoS terminals in China.

What is the status on cards under Jan Dhan Yojna? How many are active?
Over 130 million cards (13.7 crore according to the Pradhan Mantri Jan Dhan Yojna website) have been dispatched as on April-end. According to Finance Ministry data, 55 per cent of the 140 million cards issued under Jan Dhan are active, though previously it was 70 per cent. However, we are hopeful that once MNREGA is implemented, the level of inactive accounts will come down. Direct Benefits Transfer (DBT) has also helped in making them active.

The RBI has said it will roll out guidelines for issuing mobility cards. When will they be launched?
We are working with the Ministry of Transport to make payments easier in smart cities by issuing mobility cards. We have built the specifications based on both national and international standards.
This will facilitate usage of the cards at grocery shops or while buying tickets for any mode of transport through the contact-less system.
Also, the requirement of contact-less transactions will be huge and procuring large terminals in accordance with Indian standards will also serve the ‘Make in India’ campaign. We have made several presentations and the Ministry is examining our specifications. 

Will you be using the same debit cards?
Yes, it will have to be EMV (Europay, MasterCard, and Visa) enabled and have NFC (near field communication) technology. From September onwards, we will have to issue EMV-based cards as per RBI mandate.
It will be a challenge to replace the existing Jan Dhan Yojna cards into EMV-enabled ones. As of now, the RBI has not given any deadline on the replacement.

Tuesday, September 17, 2013

There's something for everyone in latest global payment cards data

The publication of RBR's global payment cards research provides, among other things, an annual opportunity to analyze how the different card schemes are matching up.
Last year's research highlighted the meteoric rise of UnionPay, and in many ways this remains the outstanding feature again this year, with the Chinese scheme growing its share of cards in issue to 34.5 percent — well ahead of its main competitors.

To some extent all the main schemes will be pleased with the new figures, however. Visa's V Pay, while still something of a niche European scheme, grew its card base by more than 50 percent, for example. And with an overall increase of more than 8 percent, MasterCard brands saw slightly higher growth in card numbers than their Visa counterparts.

The other main schemes — American Express, Diners Club, Discover and JCB — also grew their cards in issue, but it was the 12 percent growth in domestic scheme card numbers that caught the eye here. This only just kept pace with the global growth driven by UnionPay but was nevertheless ahead of most other schemes.

Growth of domestic schemes in less developed markets is likely to be a feature of the global cards scene for the next few years, with Brazil's ELO, India's RuPay and expanding schemes in other large markets such as Mexico and Nigeria.

There is no right way of comparing schemes — while UnionPay now dominates in terms of the number of cards, it must be remembered that most of these are in one country and that UnionPay's share of the number and value of transactions still lags behind the other main schemes.

Interestingly, while UnionPay makes up a more modest 4.4 percent of transactions, this rises to 20.5 percent of the value of global card payments. The message here is that it is only a matter of time before there is an explosion in the number of global card transactions when Chinese people start using cards for more everyday purchases.