Manipal Payment and Identity Solutions was incorporated as ‘MCT Cards & Technology Private Limited’ on February 19, 2008. Subsequently, the company was converted into a public limited company pursuant to a resolution passed by the Board dated November 24, 2023 and a special resolution passed by the Shareholders on November 30, 2023, consequent to which the name of the company was changed to ‘MCT Cards & Technology Limited’ on June 28, 2024. Thereafter, the name of the company was changed to ‘Manipal Payment and Identity Solutions Limited’, pursuant to a resolution passed by the Board dated May 13, 2024, and special resolution passed by the Shareholders on July 22, 2024.

The company, a part of The Manipal Group, provides payments solutions, identifications solutions, secure solutions, and smart tagging and internet of things (IOT) solutions to banks, fintechs, non-banking finance companies and governments, across domestic and international jurisdictions. Its payment solutions primarily comprise payment cards, cheque solutions, near-field communication (NFC)/quick-response (QR) codes, payment-enabled wearables, and digital automation solutions. 

Its identification solutions primarily comprise driving licenses, registration certificates, national identity cards, among others, along with transit management solutions. The company’s secure solutions primarily comprise secure logistics, personalization of insurance policies, premium notices, renewal letters and marketing collaterals, along with security-enhanced packaging such as tamper-evident envelopes, holograms and coated products. Its smart tagging and IOT solutions primarily entail printing of excise labels with holograms and encrypted QR codes for various state excise departments, IOT and track and trace solutions with radio-frequency identification (RFID) tags, and anti-counterfeiting solutions.

Business area of the company 

The company offers comprehensive solutions for cards, including banking, identity solutions, and loyalty cards. Its services encompass card manufacturing, card personalization, cheque book printing, the supply of related collaterals, tax stamps, holograms, thermal paper rolls and RFID products. Additionally, it handles fulfilment activities, including dispatch services.

Products and services of the company

Payment Solutions

• Payment Cards
• Smart Wearables
• Cheques Solutions
• NFC and QR Code Stickers
• Digital Automation Solutions

Identification Solutions

• National ID Cards
• Driving License and Registration Certificates
• Intelligent Transit Management Solutions

Secure Solutions

• Secure Logistics
• Insurance Documents (Customer Communication Management)
• Holograms, Coated Products, and Other Security Printed Products

Smart Tagging and IoT Solutions

• Tax Stamps Solutions
• IOT and Traceability Solutions

Awards, accreditations and recognition 

• 2016: Awarded the ‘Best Banking Card Service Provider’ by KamiKaze B2B Media.
• 2017: Awarded the ‘Best Banking Card Services Provider of the Year’ at the 5th Payments & Cards Summit by KamiKaze B2B Media.
• 2018: Received a ‘Memento of Appreciation’ during Smart Cards Expo with Internet of Things India Expo from Messe Munchen.
• 2018: Awarded the ‘Siver Certificate of Merit’ at the India Manufacturing Excellence Awards 2018, by Frost & Sullivan.
• 2022: Received the ‘Partner Appreciation Award 2021-2022’ for ‘continued loyalty and partnership’ by Evolis India.
• 2024: Received the ‘Appreciation Award 2023-2024’ for ‘Invaluable Contribution and Partnership 2023-24’ by Evolis.
• 2024: Awarded as the ‘BFSI Best Brands 2024’ by Economic Times Edge and The Times Group.
• 2025: Awarded the ‘Best Payment Card Solution Provider’ at the India Banking Summit & Awards 2025.
• 2025: Received ‘Organisation with Highest Quality Orientation’ award at Asian Leadership Awards, Dubai.
• 2025: Received ‘Award for Best HR Strategy in Line with Business’ at Asian Leadership Awards, Dubai.
• 2025: Received ‘Award for Talent Management’ at Asia Pacific HRM Congress Awards.
• 2025: Received ‘Award for Leading HR Practices in Quality of Work Life’ at Asia Pacific HRM Congress Awards.
• 2026: Received ‘Company of the Year’ award from the Business Leader of the Year.

History and milestones

• 2009: Commenced offering magstripe cards.
• 2013: Commenced offering chip-embedded cards.
• 2014: Commenced exporting of license cards outside the South Asian Association for Regional Cooperation regions.
• 2016: Commenced offering instant issuance solutions through offering account opening kiosks and debit card printing kiosks.
• 2016: Commenced offering contactless chip cards.
• 2017: Received certificate of compliance from National Payments Corporation of India and RuPay Compliance Program Board for card manufacturing, card embossing, card mailing, chip personalisation – contact, chip personalisation – contactless, antennae etching, magnetic stripe encoding, chip data preparation and chip embedding at the Company’s facility in Manipal.
• 2019: Introduced offering of polycarbonate specification based smart cards for driving licences.
• 2019: Selected as a successful bidder and commenced supplying smart cards (with polycarbonate based specification) for driving licenses and registration certificates to a government transport department.
• 2020: Commenced offering radio-frequency identification (RFID) based tags for tolls and fastags.
• 2022: Received patent for a dual interface smart card with metal face layer and manufacturing method thereof.
• 2022: Commenced offering Rupay metal cards.
• 2022: Selected as successful bidder and commenced supplying identification cards to a government identity authority.
• 2022: Commenced supplying polycarbonate card based driving licenses and registration certificates to the Transport Department, Chhattisgarh.
• 2023: Commenced offering rPVC cards.
• 2023: Commenced offering RuPay on the go smart payment key fobs.
• 2023: Commenced supplying driving licenses and registration certificates to the Transport Commissioner Office, Maharashtra.
• 2024: Acquired the VDP Division of Manipal Technologies Limited (MTL) on a going concern basis and by means of a slump sale. The acquisition of the VDP Division has been undertaken by the Company with an effective date of March 31, 2024.
• 2024: Received ISO 14298:2021 central bank level certification for ‘Management of Security Printing Processes’ from Intergraf basis audit conducted by VPGI Certification B.V., The Hague, Netherlands.
• 2024: Commenced offering LED DI cards.
• 2024: Received approval from National Payments Corporation of India, RuPay Compliance Program Board and Mastercard Global Vendor Certification Program for card personalisation at the company’s facility in Chennai.
• 2024: Received approval from National Payments Corporation of India, RuPay Compliance Program Board and Mastercard Global Vendor Certification Program for card personalisation at the company’s facility in Noida.
• 2025: Acquired the revenue assurance business of MTL, including the smart tagging and internet of things solutions, along with holograms, coated products, and other security printed products business of MTL, on a going concern basis and by means of a slump sale. This acquisition has been undertaken by the company with effective date of April 1, 2025.
• 2025: Received approval from National Payments Corporation of India, RuPay Compliance Program Board and Mastercard Global Vendor Certification Program for card manufacturing and chip embedding at the company’s facility in Manipal.
• 2025: Received approval from a global card network for use of rPVC-100% cards for magnetic stripe and dual interface configurations.