Oberthur Technologies (OT) has collaborated with India-based Axis Bank to provide first open loop EMV contactless smart cards to be used in public transportation in Bengaluru, India.
The new RuPay EMV contactless smart card will allow commuters to tap and pay instead of buying a ticket each time they use transportation in Bengaluru.
RuPay is an Indian domestic card scheme conceived and launched by the National Payments Corporation of India.
OT said that the new cards can work with many retail/transit/toll/parking chains. Additionally, they are interoperable across different transport systems in the country.
OT managing director of financial services institutions Eric Duforest said: “We are delighted to partner with Axis Bank who took the lead to launch the first RuPay open loop EMV contactless smart card.
“Thanks to our collaboration with Axis Bank, this new payment platform will enable millions of end-users to enjoy convenience of payment in public transportation.”
Axis Bank head of cards and merchant acquiring business Sangram Singh said: “We believe that the Axis Bank BMTC Smart card program in Bengaluru will lead the way towards implementation of many more open loop EMV contactless payment initiatives in India.
“This model offers unparalleled convenience of one card for multiple payment needs making this the most preferred option. We are happy to further deepen our relationship with OT by partnering with them for this pilot in Bengaluru.”