RuPay is the first-of-its-kind domestic debit and credit card payment network of India developed by National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems.
"We will be (launching RuPay based credit card) soon. There is a last agreement that is left out at the end of NPCI level. I think NPCI is going to send it any day and we will be launching some products," SBI Card MD and CEO Hardayal Prasad said in an interview to PTI.
Expressing confidence that RuPay credit card will be launched in this fiscal only, Prasad said, "It's just a matter of time. The Rupay will become very popular and will be used in India aggressively. I have no doubts on it".
He said that there is a big "nationalistic segment" which is insisting on RuPay cards. About one-third of the cards being issued by India's largest lender State Bank of India are RuPay cards, he said.
"There are class of customers who want RuPay card. There are those nationalistic people who say 'give us only Rupay cards'. So I am very upbeat," he said.
The company may issue both RuPay as well as Visa/Mastercard to its customers, specially who travel abroad, Prasad said.