The RuPay card is accepted at all ATMs (1.6 lakh plus), 95 per cent of PoS terminals (9.45 lakh plus) and most of the eCom merchants (about 10,000) in the country.
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
'RuPay' is developed by National Payments Corporation of India.
Home ministry sources say there are fears that international lobbies might have been involved in spying, to create a narrative around Indian governance as well as the economy.
Against National Democratic Alliance's 75 million target, United Progressive Alliance added 61 million in 2013-14.
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
The project, anchored by National Highways Authority of India in partnership with National Payments Corporation of India, is gaining momentum, with big banks such as ICICI and non-bank entities like Paytm have also entered the arena.
Watal panel had suggested an independent payments regulator be set up.
Be careful if you find your postal mails/ bank and financial statements intercepted, pilfered or tampered with.
The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM network of Yes Bank
