NPCI launches RuPay commercial card
It has partnered with State Bank of Mauritius and fintech players Yap and EnKash to launch the card.
July 23, 2020 / 03:27 PM IST
Representative Image (REUTERS/Danish Siddiqui)
The National Payments Corporation of India (NPCI) launched RuPay corporate credit card on July 23 in partnership with State Bank of Mauritius (SBM) and fintech startups Yap and EnKash.
While the card will leverage the RuPay network, it will be disbursed through SBM touchpoints. These cards have proved elusive for young entrepreneurs and small businesses but SBM, which is new to India, has been pushing innovative products for business expansion.
“Apart from providing the ultimate shopping experience to retail customers with RuPay debit, credit and prepaid versions, RuPay is in the journey of providing a seamless corporate payments experience to businesses,” NPCI chief operating officer Praveena Rai said.
The card will help small businesses in their daily operations by offering expense tracking, a 30-day credit period on business purchases, bill payments, automated GST payments and rental payments among others.
The card would be extremely rewarding for small businesses and startups and the partnership would help the ecosystem move towards a more powerful corporate card offering, EnKash co-founder Yadvendra Tyagi said.
In a press note, the company said that businesses can on-board the EnKash platform digitally and get a dedicated customer support facility.
The card also offers businesses a variable billing cycle, instant bulk payouts and a dashboard to manage business spends.