Nation First Transit Card for digital fare payments

Current Affairs, Economy

State Bank of India (SBI) unveiled the ‘Nation First Transit Card’ for seamless and convenient digital fare payments. The card is designed to enhance the commuting experience by facilitating digital ticketing across various modes of transport and parking, all within one card.

Nation First Transit Card

  • Aims to make it easier for customers to commute and pay digital fares for parking, buses, water ferries, and the metro with a single card.
  • Allows for both retail and online business payments, offering flexibility.
  • Powered by the National Common Mobility Card (NCMC) and RuPay systems.

Key Facts about the National Common Mobility Card (NCMC)

  • Launched on March 4 of this year.
  • Enables SBI users to use their debit cards as transportation in places that accept them for buses and metro rail.
  • The Reserve Bank of India (RBI)-established Nandan Nilekani committee is credited with developing the idea.
  • An endeavour to promote cashless transactions and a centralized payment system for commuters by the Indian Ministry of Housing and Urban Affairs.
  • Utilizes the RuPay platform, created by the National Payments Corporation of India (NPCI), to provide a single contactless transit solution.
  • Transforms cell phones into interchangeable transportation cards for metro, bus, and suburban railway services. Operates as an automatic fare collection system.

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