The National Payments Corporation of India (NPCI) has established NPCI Tech Solutions Limited (NTSL) as a wholly owned subsidiary and appointed Vishal Kanvaty as its Managing Director and Chief Executive Officer. NTSL will serve as the technology and innovation arm of the NPCI Group, focusing on capabilities beyond the organisation’s core payments operations.
What NTSL will do
NTSL’s brief is to build capabilities outside NPCI’s core payments operations. Its stated focus areas are:
- Artificial intelligence
- Blockchain
- Digital financial infrastructure
- GCC services
It will also deliver technology services for government-linked digital public infrastructure (DPI) projects, including eKYC Setu and the Unified Ticketing Platform (UTP).
NPCI stated that the “market innovation” platforms developed and commercialised by Kanvaty will now fall under NTSL’s remit.
NPCI MD and CEO Dilip Asbe stated that AI and other emerging technologies are creating new opportunities in digital infrastructure and financial services. He explained that NTSL was established to pursue these opportunities and enhance technology capabilities across the NPCI group.
What the announcement does not cover
The statement, as reported, left out several details:
- Capital infusion or funding for NTSL
- Headcount or hiring plans
- Revenue targets or a launch timeline
- Whether NTSL will serve clients outside the NPCI ecosystem, and which ones
- How its blockchain and AI work will relate to existing NPCI products such as UPI
Also read:
- Report: NPCI receives multiple requests from merchant bodies, fintechs to delay UPI MDR rollout
- Explainer: What is NPCI’s AI-powered MyUPI and what we found while using it
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