National Payments Corporation of India (NPCI) has empanelled three ad agencies. These include R K Swamy BBDO, JWT and Ad Factors.
The development is the result of a multi-agency pitch that was held in Mumbai recently.
The roster agencies will be required to build brand RuPay and work on the RuPay Card Scheme.
Highly placed sources in the industry have confirmed the news to afaqs!.
It may be recalled that in May 2011, R K Swamy BBDO had created a brand identity for RuPay. At the time, RuPay was positioned as the new currency for India and as a mainstream payment system across the nation. The name of the brand has been inspired by the Indian 'Rupaya'.
The word RuPay is an amalgamation of the words 'Rupee' and 'Payment', and is meant to suggest a truly Indian identity, as it is an inclusive and affordable alternative to global payment systems such as Visa and MasterCard.
Currently, the RuPay logo uses the nation's colours -- saffron, green, white and blue -- in a vibrant form. The use of these colours is meant to connote the image of an Indian on the move. 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.