AGS Transact Technologies Limited, the Mumbai-based integrated omni-channel payment solutions provider, on Monday announced that its digital payment platform and a non-bank PPI ‘Ongo’ will commence issuance of instant National Common Mobility Cards (NCMC) at Chennai Metro Rail. These cards do not require full KYC, as per the updated RBI guidelines, for making transit payments, says a release.
Ongo’s instant card issuance process is an industry-first, wherein card dispensers are installed across select Chennai metro stations to facilitate instant issuance of these ready-to-use NCMC cards. The company will earn revenue through issuance fee, interchange fee on each transaction, and float income.
Commuters can purchase the instant NCMC cards for ₹100 from these card dispensers in three easy steps: Select Card - Pay via UPI – Collect ready-to-use Ongo NCMC card. Each card comes preloaded with a balance of ₹50. Commuters can conveniently top up their instant NCMC cards with a maximum fund limit of ₹3,000 at ticket counters across all Chennai metro stations, the release said.
The daily ridership across metro systems in India is about 10 million and it is expected to reach about 12.5 million in near future. Chennai Metro, which is one of the 12 NCMC enabled metro systems in the country, achieved a peak monthly ridership of over 95 lakhs and more than 35 lakh closed-loop metro card users in July 2024, the release said.