RuPay credit card base widening
NPCI sees 12-15% of the new credit card issuances happening on RuPay
image for illustrative purpose
New Delhi: The National Payments Corporation of India (NPCI) is focussing on gaining new customers to expand the indigenous RuPay-enabled credit card base, as the retail payments umbrella body is still a new entrant in this space, a top official of the company said.
"If you look at the credit cards, we moved into the market recently and we look at the market share of new customers. In the past 18 months, around 12-15 per cent of the new issuances (credit card) is happening on RuPay," NPCI Chief Operating Officer Praveena Rai told PTI in an interaction.
The homegrown NPCI is an umbrella organisation for facilitating retail payments and settlement in India through the RuPay gateway. It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) to create a robust payment and settlement system.
"For RuPay, it is important for us that we expand the reach and distribution of RuPay cards. RuPay is a strong player in the debit card and prepaid card space. We are now focussing our attention to establish strongly in the credit card space as well," Rai said.
