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Centre’s mobility card to go places as RBI eases rules

Economic Times · 8m

The National Common Mobility Card (NCMC), which allows digital payments across multiple public transport systems in India, has had limited adoption so far. However, with new regulatory changes allowing NCMC cards to be issued with a limit of Rs 3,000 without KYC, it is expected to gain more popularity. The Reserve Bank of India's move is expected to attract more players and make the system more attractive to commuters. Currently, there are around 200 million NCMC-enabled cards, but adoption has been slow. The NCMC cards can be used for payments at metros, buses, toll plazas, fuel stations, and future plans include using them for suburban trains. The aim was to replicate the success of similar cards in London and Hong Kong, but India's fragmented public transport system has slowed down adoption. The recent regulatory changes and the discontinuation of services by Paytm Payments Bank may open up opportunities for other players in the mobility payments space.