To facilitate RuPay credit card transactions on the QR code acceptance network, National Payments Corporation of India (NCPI) is holding talks with banks.
Small merchants may be exempted from the card acceptance fees, which can go up to 2%, that banks deduct from credit card payments to larger shops.
Dilip Asbe, the MD & CEO of NPCI said, “The corporation is targeting a billion daily transactions across digital platforms. We are looking at a combination of payments-card tokenization for contactless payments, using the national common mobility card in a super-efficient way, and widening the use of toll collection cards for parking, petrol pumps and other uses.”