BusinessLine,<\/em>\nadding that there is a need to change the perception that RuPay cards are not\naccepted globally.<\/p>\n\n\n\nKimihisa Imada, President and COO, JCB International, said\nIndia has a huge population, of which, a large number of people travel abroad.\n\u201cJCB started its card business in 1961 and it went global in 1981. We didn\u2019t\nwant to work with Mastercard and Visa and respect India\u2019s similar idea,\u201d he\nsaid, adding that the rates for the JCB product is less expensive. <\/p>\n\n\n\n
JCB said it will not be affected by the Budget proposal for\nzero MDR, as it will be only for international usage, and will also be in sync\nwith the RBI norms for data localisation. However, Rai noted that the industry\nhas certain issues with the proposal for scrapping MDR which is being\ndiscussed.<\/p>\n\n\n\n
\u201cIt has been announced and we are waiting to hear more in\nterms of execution and how it will get passed. The industry has certain\nconcerns and these are being discussed in certain forums. When a change of this\nmagnitude enters an industry, it will change the landscape,\u201d she said.<\/p>\n\n\n\n
About NPCI<\/strong>
It is an organization for operating retail payments and settlement systems in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks Association (IBA).
Headquarters:<\/strong> Mumbai
Founded:<\/strong> 2008<\/p>\n","protected":false},"excerpt":{"rendered":"National Payments Corporation of India or NPCI ties up with JCB for global RuPay card. Banks including State Bank of India, Punjab National Bank, Axis Bank, Union Bank of India, Central Bank of India, Andhra Bank, City Union Bank, and TJSB Bank will issue these cards, which will be accepted in India at all POS […]<\/p>\n","protected":false},"author":13,"featured_media":4062,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[65,261,262],"offerexpiration":[],"class_list":["post-4061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-current-affairs-on-memorandum-of-understanding","tag-global-rupay-card","tag-national-payments-corporation-of-india"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=4061"}],"version-history":[{"count":2,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4061\/revisions"}],"predecessor-version":[{"id":4074,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4061\/revisions\/4074"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/4062"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=4061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=4061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=4061"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=4061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}