The partnership is also set to allow RuPay (the national card payment network in India) cardholders to use the Discover, Diners Club International and PULSE networks for international purchases and cash access outside of India.
Under the agreement, POS and ATM transactions by RuPay network cardholders across India are set to be processed on the RuPay network. Outside of India, RuPay Global Card transactions are set to be processed on the Discover, Diners Club and PULSE ATM networks. The companies are also set to implement D-PAS, Discover’s EMV technology, to provide chip-based cards to RuPay card members.
The arrangement is set to be implemented in phases. To begin with, DFS and DCI cards will be accepted at RuPay ATMs in India, followed by acceptance at RuPay POS locations. The final phase is set to enable acceptance of RuPay Global Cards on Discover’s global payment network outside of India.
The NPCI is the umbrella organization for all retail payment systems in India owned and operated by banks. In November 2011, The Reserve Bank of India (RBI), India’s central banking authority, has authorized The National Payment Corporation of India to start providing an ATM-to-mobile money transfer service.
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