Federal Bank Launches RuPay NCMC Wallet Debit Card

Federal Bank has become one of the early private sector banks to launch the NCMC integrated debit card. National Common Mobility Card is a feature introduced on RuPay contactless debit card, which allows card holders to make payments at NCMC enabled terminals at metro stations, buses etc in offline mode within a second by tapping the card on the card reader. NCMC is equipped with a host of functions including stored value payment (currently up to Rs. 2000/- and subject to change as determined by RBI from time to time) to ease travel in various ways by making payments digital.

In order to activate the NCMC functionality and start using the card for offline transactions, the cardholder is required to enable the "contactless facility" through mobile banking, internet banking or IVR. And after being enabled visit the customer service desk of the metro station and initiate activation and money load transactions. Money can be loaded in the card only through cash or through an existing savings account at the metro counter. After loading the money, the customer can tap the card at the entry and exit of the terminal, and disclose the convenience of travel without buying a separate ticket. The debit/available amount will be displayed on the metro terminal screen while tapping the card.

"We are thrilled to unveil a new and ambitious project for Federal Bank RuPay debit card holders, who can now use their debit cards for offline payments at transit operators. NCMC is set to revolutionize the way citizens navigate urban transport networks across the country. Aiming to enhance convenience and efficiency, NCMC has introduced an integrated approach to travel, thereby simplifying commuting experience for millions. "This step taken by Federal Bank and RuPay will empower customers and facilitate them to travel and pay," said Chitrabhanu KG SVP and Country Head-Retail Assets and Cards-Federal Bank, Chitrabhanu KG SVP and Country Head- Retail Assets and Cards, Federal Bank.

About Federal Bank:

Federal Bank is a leading Indian private sector bank with a network of about 1,372 banking outlets and 1,914 ATMs/recyclers across the country. The total business mix (deposits + advances) of the bank as on 31st March 2023 was 3.87 lakh crore. The bank's capital adequacy ratio calculated as per Basel III guidelines stood at 14.81% as on 31st March 2023. Federal Bank has representative offices in Dubai and Abu Dhabi, which act as a nerve centre for NRI customers in the UAE. The bank also has an IFSC banking unit at Gujarat International Finance Tec-City. Federal Bank is transforming itself into an organization that provides services beyond the level while upholding its principles. It has a well-defined vision for the future as a guide to its progress.