 "Kochi Metro signs MoU with NPCI")
As a first step to introduce a common mobility card for the greater Kochi area, Kochi Metro Rail Limited (KMRL) has signed an MoU with National Payment Corporation of India (NPCI).
This will enable the use of NPCI's RuPay specifications for cards and terminals and other payment modes for the smart card KMRL is going to launch for transit.
NPCI managing director and chief executive officer AP Hota and KMRL managing director Elias George signed the MoU here today.
The organisation has been mandated to build central infrastructure for payment systems like ATM switching, mobile payments, cheque truncation system, PoS switching, 24X7 remittance system and financial inclusion transactions.
The organisation has also a mandate to build a domestic card payment scheme.
KMRL is planning to set up ticketing and automatic fare collection system.
Towards this, KMRL, under the Unified Metropolitan Transport Authority is developing a one-fare payment instrument for all modes of public transport.
This will enable the use of NPCI's RuPay specifications for cards and terminals and other payment modes for the smart card KMRL is going to launch for transit.
NPCI managing director and chief executive officer AP Hota and KMRL managing director Elias George signed the MoU here today.
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NPCI is the umbrella organisation of all retail payment systems in India and is set up by banks with the support and guidance from Indian Banks' Association.
The organisation has been mandated to build central infrastructure for payment systems like ATM switching, mobile payments, cheque truncation system, PoS switching, 24X7 remittance system and financial inclusion transactions.
The organisation has also a mandate to build a domestic card payment scheme.
KMRL is planning to set up ticketing and automatic fare collection system.
Towards this, KMRL, under the Unified Metropolitan Transport Authority is developing a one-fare payment instrument for all modes of public transport.