Budget 2019: Know About One Nation One Card
One Nation One Card is just like RuPay-based debit or credit card issued by your bank.
The Union Budget 2019 strengthened the government's continuous effort on promoting digital payments. Finance Minister Nirmala Sitharaman announced a slew of measures to promote digital payments in India while presenting the budget.
During the presentation, she spoke about the 'One Nation One Card' that Prime Minister Narendra Modi had launched this year in the month of March. The card is National Common Mobility Card (NCMC) compliant and is powered by RuPay card payment scheme by the National Payments Corporation of India (NPCI).
The FM said about the card, "India's first indigenously developed payment ecosystem for transport, based on National Common Mobility Card (NCMC) standards, was launched by Hon'ble Prime Minister in March 2019. This will enable people to pay multiple kinds of transport charges, including metro services and toll tax, across the country."
Here is all that you need to know about the 'One Nation One Card'
One Nation One Card is just like RuPay-based debit or credit card issued by your bank.
One Nation One Card is NCMC-compliant and can be used while making payments when travelling on buses, metros and trains.
This card can be used as your debit card at any ATM as well as a local wallet stored value account.
While travelling abroad you can also avail 5% cashback at ATMs and 10% cashback at merchant outlets.
The card can be used for contactless payments, you need not go back to the server or additional authentication.
Through NCMC all new metro and transit payments will support this card.
The card can be used for low-value payments as well like toll, parking and smaller merchant payments other than for travel needs.
Any refund related to this card/wallet will get credited in your linked bank account (linked to the card).
The RuPay-based contactless card will be available with over 25 banks including SBI, PNB and others.
The card can also be issued from Paytm Payments Bank and also offer cash back on bill payments.
This initiative is supported by indigenously developed Automatic Fare Collection Gate 'Swagat' and an Open Loop Automatic Fare Collection System called 'Sweekar'
