Manipal Payment and Identity Solutions Ltd. ಕಂಪನಿ ಇತಿಹಾಸ ಮತ್ತು ವಾರ್ಷಿಕ ಬೆಳವಣಿಗೆ ವಿವರ

Our Company was incorporated as “MCT Cards & Technology Private Limited” on February 19, 2008, at Karnataka, India, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Assistant Registrar, Registrar of Companies, Karnataka, at Bengaluru (“RoC”). Subsequently, our Company was converted into a public limited company pursuant to a resolution passed by our Board dated November 24, 2023 and a special resolution passed by the Shareholders on November 30, 2023, consequent to which the name of our Company was changed to “MCT Cards & Technology Limited”, and a fresh certificate of incorporation dated June 28, 2024 was issued by the Registrar of Companies, Central Processing Centre, Manesar, Gurugram, Haryana. Thereafter, the name of our company was changed to our present name, “Manipal Payment and Identity Solutions Limited”, pursuant to a resolution passed by our Board dated May 13, 2024, and special resolution passed by our Shareholders on July 22, 2024. A fresh certificate of incorporation dated August 23, 2024 was issued by the Registrar of Companies, Central Processing Centre, Manesar, Gurugram, Haryana, upon change of our name.

Major Events 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.
- 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 our Company’s facility in Manipal.

2019
- Introduced offering of polycarbonate specification based smart cards for driving licences.
- 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.
- Commenced offering Rupay metal cards.
- Selected as successful bidder and commenced supplying identification cards to a government identity authority.
- Commenced supplying polycarbonate card based driving licenses and registration certificates to the Transport Department, Chhattisgarh.

2023
- Commenced offering rPVC cards.
- Commenced offering RuPay on the go smart payment key fobs.
- Commenced supplying driving licenses and registration certificates to the Transport Commissioner Office, Maharashtra.

2024
- Acquired the VDP Division of Manipal Technologies Limited on a going concern basis and by means of a slump sale. The acquisition of the VDP Division has been undertaken by our Company with an effective date of March 31, 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.
- Commenced offering LED DI cards.
- Received approval from National Payments Corporation of India, RuPay Compliance Program Board and Mastercard Global Vendor Certification Program for card personalisation at our Company’s facility in Chennai.
- Received approval from National Payments Corporation of India, RuPay Compliance Program Board and Mastercard Global Vendor Certification Program for card personalisation at our 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 our Company with effective date of April 1, 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 our Company’s facility in Manipal.
- Received approval from a global card network for use of rPVC-100% cards for magnetic stripe and dual interface configurations.