EbixCash and NSDL Payments Bank register 10m MSRTC NCMC cards in five months
The partners say they have registered more than one crore RuPay NCMC concession smartcards for Maharashtra bus passengers, building a base for digital fare payments, auto-recharge and planned retail-payment and multimodal transit use.
What happened
EbixCash Payment Solutions · EbixCash and NSDL Payments Bank registered over one crore NCMC RuPay concession smartcards in five months for MSRTC passengers
Key facts
- More than 1 crore NCMC RuPay smartcards registered
- Five months
- Approximately 66,000 cards issued per day
- Approximately 46 cards issued per minute
- MSRTC network reaches roughly 16,000 villages
Why this matters
The deployment makes Maharashtra a strategic partnership market for transit, fintech and merchant-acquiring players seeking to layer retail payments and mobility services onto an established NCMC base.
What to watch
- Share of registered cards that complete a first recharge or fare transaction.
- Auto-recharge enrollment rate and average reload frequency.
- Number of non-MSCRTC NCMC acceptance points, especially metro, rail, parking and toll locations.
- Merchant-payment activation, transaction volume and repeat-use rate.
- State approvals for multimodal integration and concession-program expansion.
- Competitive NCMC card launches by other banks, transit agencies or wallet providers.
- Expand auto-recharge through UPI, bank accounts and agent-assisted cash loading.
- Prioritize NCMC acceptance across Mumbai/Pune transit nodes, parking, tolls and high-frequency commuter merchants.
- Use concession-card enrollment data to target activation campaigns for dormant cards and retail-payment features.
- Build merchant incentives and low-ticket acceptance economics around bus depots, stations and commuter corridors.
- Secure state and municipal agreements before rival issuers establish alternative mobility-payment rails.