The National Payments Corporation of India (NPCI) is expanding beyond its core payments business with a new subsidiary focused on AI and blockchain.
The new subsidiary, NPCI Tech Solutions Limited (NTSL), will serve as the group’s technology and innovation arm, with a focus on digital financial infrastructure.
NTSL will also develop capabilities in Global Capability Centre (GCC) services.
It will provide technology services for projects such as eKYC Setu, the Unified Ticketing Platform (UTP) and other digital public infrastructure programmes.
NPCI has appointed Vishal Kanvaty as Managing Director and CEO of the new company.
Kanvaty has worked at NPCI for nearly a decade, leading the development and commercialisation of several technology platforms that are now among NTSL’s areas of focus.
Dilip Asbe, Managing Director and CEO of NPCI, said,
“As we look ahead, advancements in artificial intelligence and other emerging technologies are creating new possibilities across digital infrastructure and financial services.
NTSL has been established to focus on these opportunities and further strengthen the NPCI Group’s technology capabilities.”
NTSL is NPCI’s fourth wholly owned subsidiary and was established with approval from its board and the Reserve Bank of India.
