NPCI launches technology subsidiary to drive digital innovation

The National Payments Corporation of India (NPCI) has formally established a wholly owned subsidiary, NPCI Tech Solutions Limited (NTSL), appointing Vishal Kanvaty as its Managing Director and CEO. The entity is designed to operate as the group's dedicated technology and innovation arm, separate from its primary retail payment operations.

NTSL will concentrate on emerging technology sectors, specifically artificial intelligence, blockchain, and digital financial infrastructure. Additionally, the subsidiary is tasked with providing technical support for government-linked digital public infrastructure initiatives, such as the eKYC Setu project and a Unified Ticketing Platform (UTP). Platforms previously incubated under Kanvaty’s oversight will now be transitioned into the NTSL remit.

NPCI CEO Dilip Asbe stated the move is intended to leverage new opportunities in financial services and digital architecture. However, the organization has yet to disclose specific details regarding capital allocation, hiring plans, or whether NTSL will offer services to external commercial clients outside of the current NPCI ecosystem.