Why it is news?
- National Common Mobility Card (NCMC) has been launched in India with the tagline of ‘One Nation One Card’ on March 04, 2019.
- 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.
- The mobility card can be issued in the form of debit, credit or prepaid card of a partner bank.
- The card is similar to any RuPay debit/credit card, which will be available with more than 25 banks, including the State Bank of India (SBI).
- The card can be used for making payments across all segments including metro, bus, suburban railways, smart city and retail shopping.
- The card can also be used for paying at toll plazas and for parking.
- The card offers cashback on bill payments and more than thousand other offers.
- A cardholder can also avail 5 percent cash back at ATMs and 10 percent cash back at merchant outlets while travelling abroad.
- It is supported by indigenously developed Automatic Fare Collection Gate ‘Swagat’ and an Open Loop Automatic Fare Collection System ‘Sweekar’.