MUMBAI: National Payments Corporation of India (NPCI) is in talks with banks to facilitate RuPay credit card transactions on the QR code acceptance network. Small merchants may be exempted from the card acceptance fees, which can go up to 2%, that bank deduct from credit card payments to larger shops.
Read More: Govt’s spend on free ration scheme at Rs 3.16 trillion
NPCI MD & CEO Dilip Asbe said that the corporation is targeting a billion daily transactions across digital platforms. “We are looking it from a combination of payments — card tokenisation for contactless payments, using the national common mobility card in a super-efficient way, widening the use of toll collection cards for parking, petrol pumps and other uses,” said Asbe at an event organised by Bank of Baroda.
