Fintech firm Junio has launched it with the use of RuPay platform
It also said that these tokens will allow payments to be processed without disclosing the details of customers or allowing payment intermediaries
The premium will be deducted before June 1 every year. The cover will last for one-year effective from June 1 to May 31 of next year
Once the pilot project is complete India’s largest insurer is likely to enter the card business.
Under PMJDY, a Rupay Debit card is provided to account holders. In 2018, the Centre enhanced the accidental insurance cover under the Rupay scheme for Jan Dhan account holders
Unlike Visa and Maestro Card, RuPay card is available only for domestic payments
The railways has advised its 12.54 lakh workforce to convert their debit/ATM cards to RuPay-powered cards, Union Minister Piyush Goyal said