NPCI — National Payments Corporation of India
NPCI — National Payments Corporation of India What is NPCI? NPCI is the umbrella organization for all retail payment systems in India. Founded in 2008 by RBI and Indian Banks’ Association, it operates UPI, RuPay, IMPS, and more—processing 15+ billion transactions monthly. NPCI’s Role Infrastructure Provider Payment Switch: Routes transactions between banks Settlement: End-of-day clearing and settlement Standards: Unified technical specifications Security: Centralized fraud monitoring Governance Ownership: Banks (51%), RBI (1%), NPCI (48%) Board: Scheduled rotation among promoter banks Oversight: RBI regulatory supervision NPCI Products Real-Time Payments UPI: 10+ billion monthly transactions UPI Lite: Offline micro-payments Credit on UPI: Credit line integration Other Systems IMPS: 24/7 interbank transfers RuPay: Domestic card network Bharat BillPay: Utility bill payments AePS: Banking correspondent services NACH: Bulk payment system RuPay Card Network What is RuPay? India’s domestic card network (launched 2012) competing with Visa/Mastercard. Over 900 million cards issued. ...