NPCI
The National Payments Corporation of India (NPCI) is an umbrella organization for operating retail payments and settlement systems in India. It was established in 2008 under the provisions of the Payment and Settlement Systems Act, 2007, by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA). NPCI's primary objective is to create a robust, secure, efficient, and cost-effective infrastructure for electronic payments in the country. It facilitates a wide range of payment systems, including the highly popular Unified Payments Interface (UPI), Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), and National Automated Clearing House (NACH). These systems cater to individuals, businesses, and banks, enabling seamless and real-time transactions across the country. NPCI works collaboratively with banks, financial institutions, and other stakeholders to drive financial inclusion and innovation in the digital payments landscape of India. It plays a crucial role in shaping the future of payments by constantly developing and upgrading its systems to meet the evolving needs of the nation.
About Us
- NPCI was created to modernize India's fragmented payment systems, fostering interoperability and a common platform. - This consolidation significantly increased digital payment adoption, leading to a more inclusive and efficient financial ecosystem. - NPCI's work has been key to India's shift towards a less-cash economy. - It operates not-for-profit, prioritizing affordable services and secure payments. - The organization is governed by a diverse board representing stakeholders like banks, financial institutions, and the RBI.
Vision
To be a global leader in retail payments, providing secure, innovative, and accessible payment solutions to all citizens of India.
Mission
To create a robust, reliable, and efficient infrastructure for retail payments in India, ensuring financial inclusion and driving innovation in the digital payments ecosystem.
Specialties & Industries
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