RuPay takes small finance bank route for network expansion

Promoting digital adoption among low income, rural clients through incentives

National Payments Corporation of India (NPCI) is using its network of small finance banks (SFBs) and payments banks to expand its RuPay card network to low income and rural individuals, say sources. 

Both SFBs and payments banks were licensed by the Reserve Bank of India to drive greater financial inclusion. RuPay plans extensive incentive-based promotions to promote usage of cards, at both point-of-sale terminals and e-commerce portals.

RuPay is the government’s response to global card companies such as Visa and MasterCard and to make debit cards more accessible for low income groups.

“NPCI is extensively promoting digital payments and has