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India’s payments authority NPCI forms unit to push into AI, blockchain tech
India’s National Payments Corporation (NPCI) has created a wholly owned technology subsidiary, NPCI Tech Solutions Limited (NTSL), to expand its work in artificial intelligence, blockchain and digital infrastructure. The move matters because it gives the operator of major retail payment systems a dedicated unit to develop technology capabilities beyond its core payments role.
NTSL will also provide technology services for Indian digital public infrastructure programmes and offer global capability centre services. NPCI chief technology officer Vishal Kanvaty, who has worked with the organisation for nearly a decade, will lead it as managing director and chief executive. NTSL is NPCI’s fourth wholly owned subsidiary, following units focused on international payments, bill payments and BHIM services.
In short
- NPCI has formed a technology subsidiary called NTSL.
- It will focus on AI, blockchain and digital infrastructure.
- NPCI technology chief Vishal Kanvaty will lead the new unit.
Explained simply
India’s National Payments Corporation (NPCI) operates widely used retail payment systems, including the Unified Payments Interface, known as UPI. It is owned by Indian banks and works within the country’s regulated payments system.
NPCI also has subsidiaries focused on international payments, bill payments and BHIM, its digital payments service. Its technology unit is intended to develop tools such as artificial intelligence and blockchain, and to provide services for India’s digital public infrastructure programmes.
The move matters because payment systems rely on technology that must handle large numbers of transactions. A dedicated unit could also give NPCI a way to provide technology services beyond its core payments work.
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