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RuPay usage more than doubles between FY 2017 and 2018, says NPCI

May 16, 2018

As per data from the National Payments Corporation of India (NPCI), RuPay card usage at point-of-sales (PoS) devices has jumped 135 per cent from 195 million transactions in financial year 2017 to 459 million in 2018. Further the number of RuPay cards in circulation has also increased 35 per cent from 365 million to 494 million.

Further, RuPay also runs offers for transactions across e-commerce portals as well as at retail offline points. AS per NPCI data, RuPay card usage at e-commerce websites shows a 137 per cent jump during the period under consideration. In terms of value of payments, the transactions witnessed a jump of 180 per cent from Rs 59.34 billion in FY 2017 to Rs 166 billion in 2018.

In the initial years, mostly public sector banks were giving out RuPay cards and their numbers shot up when all Jan Dhan account holders were handed out these debit cards as well. Further, NPCI, in order to push adoption of RuPay, is trying to issue a common card for both ATM and PoS transactions.

 

 
 

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