Overview
On July 21, 2026, in Bengaluru, India, CARD91 announced that it has provided its comprehensive Prepaid Payment Instrument (PPI) suite to Indian Overseas Bank (IOB), enabling the bank to go live with RuPay National Common Mobility Card (NCMC) and Gift Card capabilities. Built on NPCI’s National Common Mobility Card framework, the partnership expands IOB’s product portfolio, offering customers a convenient alternative for everyday travel, parking payments, and gifting, with digital servicing through CARD91’s technology stack.
Program Details
The RuPay NCMC capability supports day‑to‑day mobility use cases such as metro, bus, and parking payments, allowing tap‑based transactions for seamless travel. In addition, the Gift Card offering addresses gifting needs. Cardholders can manage their cards via a mobile application available on both the Play Store and the App Store, with functionalities that may include balance checks, transaction history, reload or top‑up options, and customer support, subject to program terms.
Technology and Compliance
CARD91 supplied a modern, fully NPCI‑certified technology stack that is compliant with recent regulations. The provider also delivered execution support, testing, and compliance validation to help IOB launch the program after obtaining necessary approvals. This approach is intended to accelerate time‑to‑market, enhance launch readiness, and provide digital servicing support.
Executive Quote
Ajay Pandey, CEO of CARD91, stated: “Prepaid programs become more meaningful when they are built around real customer needs and supported by the right technology foundation. We are pleased to support Indian Overseas Bank in taking its PPI program live with RuPay NCMC capability and Gift Cards within an accelerated timeline. This launch reflects CARD91's ability to help banks move from product design to market readiness with speed, control, and operational efficiency.”
About Indian Overseas Bank
Indian Overseas Bank (IOB) is a public‑sector bank founded on February 10, 1937, by Shri M.Ct.M. Chidambaram Chettyar. Originally focused on foreign‑exchange banking, IOB has evolved into a full‑service institution offering deposit accounts, loans, cards, forex, and digital banking solutions across India.
About CARD91
CARD91 is a payments and onboarding risk‑infrastructure provider that enables regulated entities to launch and scale customer programs. Its platform supports seamless onboarding journeys, fraud detection, credit decisioning, card issuance across credit, prepaid, and forex, as well as UPI stack capabilities for issuance and acquiring. Operating from key financial hubs including Mumbai, Bangalore, Delhi, and Chennai, CARD91 leverages its NPCI‑certified capabilities to help institutions design bespoke payment programs and bring them to market with speed, security, and a seamless digital experience.