Ten million cardholders of ICash Card, from Wirecard’s subsidiary GI Technology, now have another prepaid card to withdraw cash from ATMs and make offline and online payments, thanks to the open-loop RuPay prepaid card from RBL-ICASH. The open-loop wallet can also be used to pay utility bills. The card uses the RuPay platform and can be purchased at over 150,000 Smart Shop retail agents across the country through a simple, one-time registration process on the ICASH website or via the mobile app. The card is intended for migrant workers and their families as well as micro-entrepreneurs, who benefit from greater efficiency and timesaving. The collaboration with GI Technology is an important milestone for RBL Bank. It’s the first of many co-branded cards the two organisations plan to issue together.
GI Technology is one of the biggest platforms using the National Payment Corporation of India’s (NPCI) Immediate Payment Service (IMPS). It is currently NPCI’s biggest IMPS user in the non-banking category and the second biggest in the banking and non-banking category.