It is the umbrella organisation for all retail payment systems in India, which aims to allow all Indian citizens to have unrestricted access to e-payment services.
Founded in 2008, NPCI is a not-for-profit organisation registered under section 8 of the Companies Act 2013.
The organisation is owned by a consortium of major banks, and has been promoted by the country’s central bank, the Reserve Bank of India.
Its recent work of developing Unified Payments Interface aims to move India to a cashless society with only digital transactions.
It has successfully completed the development of a domestic card payment network called RuPay, reducing the dependency on international card schemes.