- The “Nation First Transit Card” was introduced by State Bank of India (SBI) to make it simple and convenient to pay for digital fare.
- The card is intended to improve commuter experiences by enabling digital ticketing for several forms of transport and parking on a single card.
- Through the use of a single card, the Nation First Transit Card seeks to simplify consumer travel and digital fare payments for parking, water ferries, metro, and buses.
- Allows for both retail and online business payments, offering flexibility.
- Powered by the National Common Mobility Card (NCMC) and RuPay systems.
The National Common Mobility Card (NCMC)’s most important details
- Launched on March 4 of this year.
- Enables SBI users to use their debit cards as transportation in places that accept it 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 centralised payment system for commuters by the Indian Ministry of Housing and Urban Affairs.
- Utilises the RuPay platform, created by the National Payments Corporation of India (NPCI), to provide a uniform contactless transit solution.
- Transforms smartphones into interchangeable transport cards for metro, bus and suburban railway services. Operates as an automatic fare collection system.
Source: https://www.thehindu.com/business/sbi-unveils-nation-first-transit-card-for-digital-fare-payments/article67281490.ece