Supports Indian Government’s vision of ‘One Nation One
Card’ with its contactless card solution
Visa, the global leader in payments technology, recently
announced the launch of its specificationsto support the rollout of the
National Common Mobility Card (NCMC) as conceived by the Ministry of Housing
and Urban Affairs of the Government of India. NCMC, also known as ‘One Nation,
One Card’, is an interoperable transport cardthat can be used for payments
across all transit segments including metro, bus, suburban railways, toll,
parking, smart city and retail.
“Globally across cities, we have seen transit as a gateway
category that drives adoption of digital payments in the local economy[1].
In India, consumers have continued to prefer cash to digital payments for low
value-high frequency transactions such as transit[2].
With the transit sectorexpected to expand with numerous upcoming metro and
smart city projects, NCMC contactless cards will trigger rapid adoption of
digital payments across transit use cases. Besides being cost effective
vis-à-vis cash, it will also help improve the efficiency and scale of public
transit systems in the country,”said Visa’s TR Ramachandran, Group Country
Manager, India and South Asia.
“With our contactless card solutions, we are committed to the
Government’s vision of being able to use a single card for transit, which would
be a key enabler for our nation to move towards a ‘less-cash’ society.” he
added.
In line with the guidelines laid down by the ministry, Visa
NCMC cards will allow for the contactless feature of tapping to pay, that
provides a card balance for offline usage at transit venues;it allows
cardholders to store their transit passes on the card, provides multiple ways
to top-up the offline balance on the card and it can be accepted at
participating public transport operators (PTOs) across the country.
Visa plans to work closely with the Government, its member
Banks and participating PTOs to ensure early rollout and acceptance of Visa
NCMC cards.
Across the world, Visa contactless cards also support the
next generation of account-based ticketing (ABT) models that have been adopted
by leading metros across the globe. Inthe ABT model, consumers can turn up and
ride with their existing Visa contactless card, allowing for a seamless payment
experience.
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