DoP to personalize 15 million debit cards

MUMBAI, INDIA: Personal savings account holders of the Department of Posts (DoP) are in for a treat.

The DoP is personalizing over 15 million debit cards for its savings account holders.

For a deal worth Rs 30 crore, it has appointed CMS Info Systems, a provider of cash management and payments solutions. The project is likely to be completed by 2018.

What this deal entails:

The Department of Post (DOP) presently covers a base of approximately 100 million account holders in India, and is in the midst of a phased deployment of ATMs across the country, to better service their customers. To facilitate production of personalized debit cards that can be used at these ATMs, CMS Info Systems has been selected by the DOP to supply Rupay enabled cards.

The personalized debit cards will be issued on the NPCI platform and their usage would initially only be on ATMs installed at DOP branches, as a closed loop environment. The cards can later be used on other ATMs with Rupay affiliation. These cards will initially be of the magstripe variant, with the option of EMV being available to the account holders after a set period of time.