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After almost two years of planning, the National Payments Corporation has at last finalised the proposed unique India Card which once commercially launched would be an domestic alternative to the global real-time payment processing firms like Visa and MasterCard. "We have finalised name of the proposed card as Rupay at our board meeting here today. We have also finalised the logo for the same," a senior official of the RBI-set up National Payments Corporation of India (NPCI), told PTI this evening. The official sought not to be named. The official further said the leading financial consultancy firm Ernst & Young(E&Y) will develop and roll out the entire architecture, including the design and software for the Rupay card rollout. A senior E&Y official confirmed the development to this agency.
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