NPCI ups RuPay credit card play against rivals

National Payments Corporation of India (NPCI) has started offering financial incentives to banks to push RuPay credit cards to their customers in a bid to promote homegrown payment methods, said people directly aware of the matter.

The incentive is paid from the fee that RuPay levies on banks for credit card transactions. While global card schemes Visa and Mastercard already offered such incentives, for NPCI this marks a significant shift from its earlier approach of providing attractive settlement rates to banks, these people said.