The Reserve Bank of India-backed National Payments Corp. of India Ltd (NPCI), the nodal agency to manage and promote retail electronic payments in India, recently tied-up with US-based Discover Financial Services to launch globally accepted debit cards.
NPCI is already running an indigenous debit card payment network called RuPay to compete with multinationals Visa Inc. and Mastercard Inc.
“Discover card holders can now already use them in 85,000 ATMs linked to the national financial switch in India and from June end or early July. RuPay card holders can also use them abroad,” said A.P. Hota, managing director and chief executive officer, NPCI.