National Payment Corp of India (NPCI) that runs the RuPay payment card network said that it had received RBI’s approval for a tie up with Chinese government supported payment card network China UnionPay.

The Chief Executive of NPCI, A P Hota said that the two sides have signed a memorandum of understanding, but were still working out the details of the tie up.

Under the approval, China UnionPay’s cards will be accepted at all the ATMs and point of sale terminals in India through NPCI’s network, Hota said.

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