Rupay card usage increases 7 times after demonetisation

Demonetisation has boosted the digital platforms for payment. The National Payments Corporation's RuPay card usage at merchant terminals has surged seven times since 8th of November, taking the daily volumes to over 2.1 million.

The RBI-administered retail umbrella



body for all retail payment is targeting a daily volume of 5 million transactions through RuPay cards by next December.On 8th of November, the Government demonetised high value notes worth over Rs 20.51 trillion notes, or 86 per cent of the currency in circulation.