NPCI tie-up with YES Bank for ‘On-the-Go’ payment solution

The National Payments Corporation of India (NPCI) has partnered with private sector lender YES Bank to launch first-of-its-kind ‘RuPay On-the-Go’ contactless payments solutions. The RuPay On-the-Go contactless solution is mainly a wearable payment solution, launched to enable customers to make small and large value transactions from accessories that they wear every day.

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The solution would eliminate the need to carry a physical card, and customers can use the solution at RuPay contactless-enabled PoS at retail outlets and pay up to Rs 5,000 without the need for a PIN. The solution is based on a simple ‘Tap, pay, go’ mechanism. It has been launched in association with fintech infrastructure partner Neokred and manufacturing partner Seshaasai.

Important takeaways for all competitive exams:

• National Payments Corporation of India MD & CEO: Dilip Asbe.
• National Payments Corporation of India Headquarters: Mumbai.
• National Payments Corporation of India Founded: 2008.
• YES bank HQ: Mumbai, Maharashtra.
• YES bank MD & CEO: Prashant Kumar.

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