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Use of RuPay Card Surges to 700% Post Demonetisation
January 13, 2017
The demonetisation exercise has proved to be a significant booster for digital payment platforms, including the RuPay cards issued by National Payments Corporation of India.
Use of RuPay cards at point-of-service (PoS) and for e-commerce used to be about 0.3 million per day prior to demonetisation. The numbers have jumped to 2.1 million per day by the month of December, which is equivalent to a 600% rise. The organisation targets to expand this use to 5 million transactions per day by December, 2017 furthering Indian Prime Minister’s vision of a cashless society.
Out of 317 million RuPay cards issued since their launch in 2012. 205 million cards are for Jan Dhan Account holders.
