National Common Mobility Card

(Ministry of Finance)

WHAT

The National Common Mobility Card (NCMC) has been launched in India with the tagline of ‘One Nation One Card’ on March 04, 2019.

• The card was launched in association with the State Bank of India (SBI).
• This ‘One Nation One Card’ has been developed by the Ministry of Housing and Urban Affairs (MoHUA).

 

AIM

It is aimed at low-value payments for many segments such as Transit, Smart cities, Toll, Parking and other low value merchant payments or day to day retail payments.

 

SIGNIFICANCE OF CARD

The NCMC card has 2 instruments on it – a regular debit card which can be used at an ATM, and a local wallet (stored value account), which can be used for contactless payments, without the need to go back to the server or additional authentication.

It is envisioned that a single card will be usable for all local travel needs across the country.

 

NATIONAL COMMON MOBILITY CARD

• The National Common Mobility Card will be issued by all banks as debit, credit, and pre-paid cards.
• In the form of debit, credit or prepaid card, this RuPay Contactless Card with NCMC is now available with almost 25 large banks.
• It can also be issued from the Paytm Payments Bank.
• It allows cardholders to store their transit passes on the card, provides multiple ways to top-up the offline balance on the card and it can be accepted at participating public transport operators (PTOs) across the country.
• Visa contactless cards also support the next generation of account-based ticketing (ABT) models that have been adopted by leading metros across the world.
• In the ABT model, consumers can turn up and ride with their existing Visa contactless card, allowing for a seamless payment experience.
• Customers need to get in touch with their bank to get the RuPay card.
• You will just be needing one single card for making payments across all segments. This includes metro, bus, suburban railways, toll, parking, e-commerce sites, and smart city.
• Apart from the payment options, this inter-operable transport ‘One Nation One Card’, will also let you withdraw money from ATM.
• Consumers may benefit from loyalty or reward points from partner banks, as provided in case of Debit and Credit cards
• This One Nation One Card is supported by Automatic Fare Collection Gate ‘SWAGAT’(Swachalit Gate) and an Open Loop Automatic Fare Collection System ‘SWEEKAR’(Swachalit Kiraya: Automatic Fare Collection System), that was launched Under the ‘Make in India’ initiative.

 

COMMITTEE ON DEEPENING OF DIGITAL PAYMENTS RECOMMENDED

• NCMC cards are usable at all transit locations.
• All new metro and transit payments should be made interoperable through NCMC.

 

Source: PIB

You can follow us on LinkedIn and on Instagram (Diligent IAS) for more updates related to IAS Preparation/ Study Material, Subscribe to our Facebook Page and Youtube Channel- Diligent IAS 

Also, read more PIB Updates

• Rashtriya Vayoshri Yojana for Senior Citizens of BPL category
• Rashtriya Aavishkar Abhiyan