R K Swamy BBDO has created a name and brand identity for a new Indian payment system, a brand belonging to the National Payments Corporation of India (NPCI). Christened RuPay, the brand is a pioneering attempt to help bring the multiple benefits of electronic payments to the masses.
RuPay has been floated with the goal to become the new currency for India and to emerge as a mainstream payment system across the nation. This brand underwent a soft launch about a couple of months ago.
The creative team at R K Swamy BBDO that worked on the creation of brand RuPay (name and logo design) comprises Tapas Pal, brand design director -- art, Bala Amruskar, brand design associate, Aziz Chikte, brand design director -- art, and Chacko Varghese, brand design director -- copy.
The name of the brand has been inspired by the esteemed Indian 'Rupaya'. The logo uses the nation's colours -- saffron, green, white and blue -- in a dynamic form. The use of these colours is meant to connote the image of an Indian on the move. Additionally, the logo is also meant to convey to the masses the brand's commitment to deliver a state-of-the-art, affordable and easily accessible payment service.
Revealing that the name RuPay was a spark of collective inspiration, Narasimhan tells afaqs! that the philosophy of the brand is very clear, thanks to the crisp brief the agency received from the NPCI team at the ideation stage.
"In terms of setting up a world class retail payment system, RuPay is India's answer to the world," he enthuses. He goes on to add that the TG (target group) comprises all Indians. "The goal is to cut across all class barriers and, in a sense, promote financial inclusion. It is a mass brand for all the citizens of the country," adds Narasimhan.
Another objective, he adds, is to increase the acceptance of electronic retail payment on part of professionals at the retail level.
Though RuPay will utilise robust technology that involves the entire financial eco-system, it is safe and simple to use; the agency's task is also to communicate this to the masses. Since all these missions were clear to the agency, the instructions translated into a design brief easily.
The marketing initiatives for this electronic retail payment brand are confidential at this stage.
R K Swamy BBDO had won the branding mandate for this brand around August 2010. The development was the result of an elaborate multi-agency pitch that was initiated in May 2010.