The government has asked banks to ensure that all new cards and reissues of old cards have the National Common Mobility Card (NCMC) as a default option with contactless or near-field function facilities.
The missive, sent earlier this month, will likely push banks to issue more cards on the RuPay platform, as a majority of NCMC-enabled cards are on the RuPay network.
A senior official confirmed the development and said lenders are expected to have all their cards equipped with NCMC features, including an offline wallet. “It was observed that most lenders, including both private and public sector banks, are not issuing NCMC cards with NFC functions,” he said, explaining the motive behind the recent directive.
Source:
Economic Times
