PencilKey, a National Common Mobility Card (NCMC) compatible RuPay contactless keychain, was developed by Pencilton, a teen-focused finance firm.
PencilKey, a National Common Mobility Card (NCMC) compliant RuPay contactless keychain, has been created by Pencilton, a teen-focused fintech business, in collaboration with the National Payments Corporation of India (NPCI) and Transcorp.
The Pencilton app, which can also be used to load money, check spending, block/unblock the account, set limitations, and more, allows users to activate and manage their PencilKey.
PencilKey is linked to the PencilCard, a prepaid card, metro card, and bus card. PencilKey comes with the NCMC benefits currently used on the Delhi Airport Metro line and Goa’s buses.
It will also be accepted for metro travel in Pune, Chennai, and Mumbai and on Mumbai’s BEST buses. The virtual PencilCard is free, according to Pencilton.
Consumers can purchase a PencilKey for $150 and a PencilCard for $100. Still, as part of the company’s launch promotion, users can buy a PencilKit (combo) for $200, containing the PencilCard and the PencilKey.