National Payments Corporation of India (NPCI) is focusing on adding new customers for the expansion of indigenous RuPay based credit cards. 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 very recently and we are looking at the market share of new customers. In the last 18 months, around 12-15 per cent of new credit cards are being issued on RuPay.
NPCI provides retail payment and settlement facility in India through RuPay Gateway. It is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) to create 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 segment. Now we are focusing on making a strong presence in the credit card segment as well.” He said that the credit card market in India has grown from about 4-42 million to about 65 million credit cards in the last two years, he added. . “We are confident that we will be able to meet this demand in the market,” Rai said.