Master Card and Visa Card keen to join

Master Card and Visa Card keen to join

Here is news on Payment Options

Global payments major Mastercard and Visa are intensely thinking on joining together in the National Common Mobility Card (NCMC) programme that allows for a single debit or credit card which can be used for transit as well. The NCMC scheme, under the ‘One Nation One Card’ platform, was launched earlier this year by the Indian Prime Minister and is available through the domestic RuPay card system.

Latest Developments:

  • Experts believe that with this move, more interoperable you make it, the better it is.
  • The best and most sustainable systems are interoperable, and it is most easy for the consumer to convert to digital payments
  • Mastercard is the leader in transit in many parts of the world, including London and Singapore.
  • Visa also supports the Government’s objectives for the NCMC programme which would enable convenient, secure, and universally accessible methods of digital payment for public transportation across the country.
  • It is also said that in that spirit an interoperable technology specification has been developed that is consistent with the official NCMC standard and people are now engaged in talks with all stakeholders to ensure that more than 330 million Visa credentials are fully included in this ambitious national effort.
  • Further, inclusion of all networks would not only help accelerate the adoption of contactless payments for transportation but also facilitate customer choice and innovation.
  • The Prime Minister in March this year had launched the Indigenous Automatic Fare Collection System based on One Nation One Card Model, or NCMC, which is the first-of-its-kind in India. These can be debit, credit or prepaid cards.
  • The objective is that the customer can use this single card for payments across all segments, including metro, bus, suburban railways, toll, parking, smart city and retail.

Let us wait for more developments and good news in the coming days….

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