NCPI Establishes International Arm NIPL to Promote International Businesses

National Payments Corporation of India (NPCI) has initiated an international arm, NPCI International Payments (NIPL). This international wing begins with the aim to export NPCI's indigenously developed digital payment offerings. But, the basic idea of NPCI is to take the product like RuPay and UPI to reach worldwide.

NPCI was set up with the intention to revolutionize domestic digital payments. Yet, it has traveled a long way from its initiation. NPCI began with ATM switches and has evolved to biometric payments and instant smartphones-based fund transfer using UPI and RuPay cards-based payments. Thus, the retail payment body has intended to elevate its offering across the globe.

NPCI has appointed Ritesh Shukla as its Chief Executive and he would be responsible for NPCI's business development and driving profitability in international markets. Also, Ritesh was part of Mastercard's business in the Middle East and North Africa before associating with NPCI. He has also worked with Axis Bank, HDFC Bank, and SBI Cards. Furthermore, Anubhav Sharma and Rina Penkar would assist Ritesh by handling partnership, business development, marketing, and Head of Product Development respectively.

On the other hand, NIPL would work towards expanding the acceptance infrastructure across the globe for RuPay cards and UPI. Also, it would leverage the technical expertise of NPCI to bring in the latest innovative solution for the fast-paced digital payments growth across the globe.

Dilip Asbe, CEO, NPCI says, “It is a matter of pride for NPCI that several countries such as Asia, Africa, and the Middle East have displayed interest towards replicating our model in their own nation. We look forward to witnessing NIPL scaling new highs by offering NPCI’s innovations to several nations and showcase a true example of Atmanirbhar Bharat.”