NPCI
OrganizationsNational 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.
Related Terms
Frequently Asked Questions
What is National Payments Corporation of India?
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 does NPCI stand for in Open Banking?
NPCI stands for National Payments Corporation of India. It is a fundamental concept in Open Banking and PSD2 regulations. 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.
How does NPCI relate to Open Banking?
National Payments Corporation of India is a key concept in the Open Banking ecosystem, falling under the Organizations category. 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.
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