Payments consulting and testing services provider FIME is advising the Indian payments industry that it should prepare its infrastructure to support a move toward adopting the EMV payments technology standard.
The National Payments Corporation of India (NPCI) has an EMV payment program called RuPay, and it’s expected that this system will emerge to be the EMV program that will be mandated for the industry.
The Reserve Bank of India has created a working group to create a domestic framework for secure payments that addresses the needs for secure payments in a society that is largely unbanked. RuPay is expected to be the platform that meets this need.
FIME provides consulting, testing and certification services around EMV migration and deployment. It is currently working in Australia to support eftpos’ transition to EMV technology.