 "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.
Also Read
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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%