IndiaPay Credit Card from RBI

The Reserve Bank of India will launch an IndiaPay credit card – an Indian version of the China UnionPay card – by the end of next year. “Inspired by the success of the China UnionPay card, we will be launching a similar one in our country to promote the use of plastic money among Indians. The credit card will be especially designed for the common people with low interest rates and risk reduction facilities,” RBI executive director R.B. Barman told reporters. Barman said the National Payment Council of India is working on the registration process of the card. The NPCI…

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