NPCI
OrganizationsThe National Payments Corporation of India (NPCI) is the umbrella organisation for operating retail payment and settlement systems in India. It is an initiative of the Reserve Bank of India (RBI) and Indian Banks' Association. NPCI operates UPI (Unified Payments Interface), IMPS, RuPay, and other domestic payment systems, and supports cross-border linkages for UPI in multiple countries.
National Payments Corporation of India
Definition
The National Payments Corporation of India (NPCI) is the umbrella organisation for operating retail payment and settlement systems in India. It is an initiative of the Reserve Bank of India (RBI) and Indian Banks' Association. NPCI operates UPI (Unified Payments Interface), IMPS, RuPay, and other domestic payment systems, and supports cross-border linkages for UPI in multiple countries.
What is National Payments Corporation of India?
NPCI (National Payments Corporation of India) is the umbrella organisation that operates India's retail payment and settlement systems. It was set up in 2008 by the Reserve Bank of India (RBI) and the Indian Banks' Association as a not-for-profit company under Section 8 of the Companies Act. NPCI runs UPI (Unified Payments Interface), IMPS, RuPay cards, NACH (bulk payments and direct debits), Bharat Bill Pay (BBPS), AePS (Aadhaar-enabled payments), FASTag electronic tolls, and the Cheque Truncation System. Its international arm, NPCI International Payments Limited (NIPL), exports UPI and RuPay to other countries — UPI is now live or in pilot in places like Singapore, UAE, France, Bhutan, Nepal, Sri Lanka, and Mauritius.
How NPCI works
NPCI sits between banks, fintechs and consumers as the rails for retail payments in India.
Owned by Indian banks under RBI
NPCI is owned by a consortium of Indian banks and operates under RBI's Payment and Settlement Systems Act, 2007. It is a not-for-profit set up to consolidate India's retail payments infrastructure.
Operates the rails
NPCI runs UPI, IMPS, RuPay, NACH, BBPS, AePS, FASTag, and the Cheque Truncation System — the underlying networks that move money between banks and merchants.
Sets standards and certifies participants
Banks, payment apps and PSPs (payment service providers) integrate with NPCI specs, get certified, and become participants in UPI/IMPS/RuPay so consumers can pay across institutions.
Exports India's payment stack abroad
Through NPCI International (NIPL), NPCI signs deals with central banks and acquirers to enable UPI QR payments and RuPay card acceptance overseas, especially for the Indian diaspora and travellers.
Related Terms
Frequently Asked Questions
What is NPCI?
NPCI stands for National Payments Corporation of India. It is the umbrella organisation that runs India's retail payment systems — UPI, IMPS, RuPay, NACH, Bharat Bill Pay, AePS, and FASTag. NPCI was established in 2008 by the Reserve Bank of India and the Indian Banks' Association as a not-for-profit company to consolidate retail payments infrastructure.
What does NPCI stand for?
NPCI stands for National Payments Corporation of India. It is a not-for-profit Section 8 company owned by a consortium of Indian banks and regulated by the Reserve Bank of India (RBI) under the Payment and Settlement Systems Act, 2007.
Who owns NPCI?
NPCI is owned by a consortium of Indian banks. It was promoted by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA), and shareholding has expanded to include public sector banks, private banks, foreign banks, cooperative banks, and regional rural banks operating in India.
What payment systems does NPCI run?
NPCI operates UPI (Unified Payments Interface), IMPS (Immediate Payment Service), RuPay (domestic card scheme), NACH (National Automated Clearing House for bulk payments and direct debits), Bharat Bill Pay (BBPS), AePS (Aadhaar-enabled Payment System), FASTag (electronic tolls), and the Cheque Truncation System. Its international subsidiary NPCI International (NIPL) extends UPI and RuPay to overseas markets.
Is NPCI the same as UPI?
No. UPI is one of several products NPCI operates. NPCI is the organisation; UPI (Unified Payments Interface) is the real-time, account-to-account payment system NPCI launched in 2016. NPCI also runs IMPS, RuPay, NACH, BBPS, AePS, and other rails alongside UPI.
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