Online payment gateway company CCAvenue may allegedly be one of the first few companies authorized by the National Payments Corporation of India (NPCI) to process RuPay debit cards.
RuPay was initially backed by four public sector banks including State Bank of India, Bank of Baroda, Bank of India and Union Bank of India. These banks have started to issue debit cards based on the platform. So far, almost 3 million RuPay debit cards have been issued.
The next phases of the RuPay rollout will involve the launch of EMV and contactless cards and credit cards.
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