MSRTC NCMC Smartcard Issuance Crosses One Crore
Analysis based on 7 articles · First reported Aug 19, 2026 · Last updated Aug 21, 2026
The rapid issuance of over one crore NCMC smartcards strengthens Ebix's position in India's transit payments market and demonstrates the scalability of its payment solutions, potentially boosting investor confidence. For NSDL Payments Bank, the program enhances its role as a digital issuer and expands its customer base, while MSRTC benefits from improved operational efficiency and reduced subsidy leakage.
Ebix — EbixCash Payment Solutions, in partnership with NSDL Payments Bank, has registered over one crore NCMC RuPay smartcards in five months under the India — Kerala State Road Transport Corporation's (MSRTC) Smart Card Concession Project. The rollout, averaging about 66,000 cards per day, replaces paper concession passes for students, senior citizens, persons with disabilities, freedom fighters, and other notified categories across MSRTC's network, which reaches approximately 16,000 villages in India — Maharashtra. The cards are issued on the RuPay network and are NCMC-compliant, supporting the 'One Nation, One Card' vision. EbixCash managed the end-to-end technology and payment infrastructure, while NSDL Payments Bank acted as the issuing bank. The program digitizes concession travel, storing entitlements on the chip and enabling offline validation at boarding, and creates auditable records for concession reimbursement. The initiative aligns with the Prime Minister's Digital India vision and extends digital payment infrastructure to rural beneficiaries. Future plans include retail payment integration, auto-recharge, and expansion to metro and water transport.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard