National Payments Corporation of India

National Payments Corporation of India

Type	Section 8 Company
Industry	Payments
Founded	2008
Headquarters	Mumbai, Maharashtra, India[1]
Key people	Biswamohan Mahapatra (Non-Executive Chairman)[2] Dilip Asbe (MD and CEO)[3][4]
Products	National Financial Switch (NFS) NACH Immediate Payment Service (IMPS) RuPay Cheque Truncation System (CTS) Aadhaar Enabled Payment System (AePS) Unified Payments Interface (UPI) *99# BHIM Bharat Bill Payment System Query Service on Aadhaar Mapper (*99*99#)
Number of employees	1000+
Website	npci.org.in

National Payments Corporation of India (NPCI, Hindi: भारतीय राष्ट्रीय भुगतान निगम) is an umbrella organisation for operating retail payments and settlement systems in India.

Contents

• 
  1 Organisation
  


• 
  2 Services
  
  
  
  • 
    2.1 RuPay
    
  
  
  • 
    2.2 Rupay Contactless
    
  
  
  • 
    2.3 BHIM
    
  
  
  • 
    2.4 Unified Payments Interface
    
  
  
  • 
    2.5 Bharat BillPay
    
  
  
  • 
    2.6 Immediate Payment Service
    
  
  
  • 
    2.7 *99#
    
  
  
  • 
    2.8 National Automated Clearing House
    
  
  
  • 
    2.9 Cheque truncation system
    
  
  
  • 
    2.10 National Financial Switch
    
  
  
  • 
    2.11 Aadhaar Enabled Payment System
    
  
  
  • 
    2.12 BharatQR
    
  
  
  • 
    2.13 BHIM Aadhaar Pay
    
  
  
  • 
    2.14 National Electronic Toll Collection
    
  
  
  
  


• 
  3 See also
  


• 
  4 References
  


• 
  5 External links
  

Organisation

Founded in 2008, NPCI is a not-for-profit organisation registered under section 8 of the Companies Act 2013. The organisation is owned by
a consortium of major banks,^[5] and has been promoted by the country’s central bank, the Reserve Bank of India.
The NPCI was incorporated in December 2008 and the Certificate of Commencement of Business was issued in April 2009. The authorised capital has been pegged at ₹3 billion (US$42 million) and paid-up capital is ₹1 billion (US$14 million).

Presently, there are ten core promoter banks (State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC). The Board consists of Biswamohan Mahapatra as the Non Executive Chairman, Nominees from Reserve Bank of India and Nominees from ten core promoter banks. ^[6]Dilip Asbe is the current managing director and chief executive officer of NPCI after A. P. Hota, who retired from the post on August 10, 2017.^[7]

Services

The corporation service portfolio now and in the future include:

RuPay

RuPay is a domestic card scheme of India. The card has Magnetic stripe (for Backward compatibility), EMV chip.The RuPay card is now accepted at all the ATMs, Point-of-Sale terminals and most of the online merchants in the country. More than 300 cooperative banks and the Regional Rural Banks (RRBs) in the country have also issued RuPay ATM cards.

Rupay Contactless

Rupay Contactless is a contactless payment technology feature that allows cardholders to wave their card in front of contactless payment terminals without the need to physically swipe or insert the card into a point-of-sale device.

BHIM

BHIM is a mobile app act as Client software for Unified Payments Interface.

Unified Payments Interface

Unified Payments Interface is a real time inter bank payment system with sent or request money. Any UPI client app may be use and multiple bank account may be linked to single app. sent or request money can be done following methods.

• 
  Virtual Payment Aaddress (VPA): Sent or request money from/to bank account mapped using VPA.


• 
  Mobile number: Sent or request money from/to bank account mapped using mobile number.


• 
  Account number & IFSC: Sent money to bank account.


• 
  Aadhaar:Sent money to bank account mapped using Aadhaar number.


• 
  QR code:Sent money QR code which enclosed VPA, Account number & IFSC or Mobile number.

Bharat BillPay

Integrated bill payment system

Immediate Payment Service

Immediate Payment Service is a real time inter bank payment system.

• 
  Mobile number & MMID: Sent money to bank account mapped using mobile number.


• 
  Account number & IFSC: Sent money to bank account.

*99#

USSD channel of Unified Payments Interface.
9343210290

National Automated Clearing House

A centralised clearing service that aims at providing interbank high volume, low value transactions that are repetitive and periodic in nature.

Cheque truncation system

CTS is based on a cheque truncation or online image-based cheque clearing system where cheque images and magnetic ink character recognition
(MICR) data are captured at the collecting bank branch and transmitted electronically.

National Financial Switch

Network of shared automated teller machines in India.

Aadhaar Enabled Payment System

A network of Micro ATM using Aadhaar authentication.

BharatQR

A common QR code built for ease of payments

BHIM Aadhaar Pay

BHIM Aadhaar pay is an Aadhaar based payments interface which allows real time payments to Merchants using Aadhaar number of Customer &authenticating him/her through his/her bio metrics.

National Electronic Toll Collection

FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly while the vehicle is in motion. FASTag (RFID Tag) is affixed on the windscreen of the vehicle and enables a customer to make the toll payments directly from the account which is linked to FASTag.

See also

• RuPay


• Unified Payments Interface


• Bharat Bill Payment System


• Immediate Payment Service

References

1. 
   ^ "National Payments Corporation of India". Npci.org.in. Retrieved 2011-03-16..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}
   


2. 
   ^ https://www.npci.org.in/board-of-directors
   


3. 
   ^ https://www.npci.org.in/management-team
   


4. 
   ^ "Mobile money transfer fee cut to 10p". Indianexpress.com. Retrieved 2011-03-16.
   


5. 
   ^ "Watal Report, December 2016" (PDF). Ministry of Finance. Ministry of Finance. Retrieved 14 January 2017.
   


6. 
   ^ "B Sambamurthy appointed as NPCI interim Board chairman". Economic Times. 21 September 2017. Retrieved 24 October 2017.
   


7. 
   ^ "NPCI names Dilip Asbe as interim CEO, AP Hota retires". Business Standard News. 14 August 2017. Retrieved 9 October 2017.
   

External links

• Official site


• CTCircular

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Payments bank	Aditya Birla Payments Bank Airtel Jio Paytm India Post Payments Bank
Defunct banks	Alliance Bank of Simla Arbuthnot & Co Bank of Bombay Bank of Calcutta Bank of Chettinad Bank of Cochin Bank of Hindostan Bank of Madras Bank of Madura Bank of Rajasthan Bank of Thanjavur Bareilley Corporation Bank Bengal Central Bank Bharat Overseas Bank Bharatiya Mahila Bank Centurion Bank of Punjab Chartered Bank of India, Australia and China Commercial Bank of India Dass Bank Exchange Bank of India & Africa Global Trust Bank Grindlays Bank Hindustan Commercial Bank Imperial Bank of India ING Vysya Bank Lakshmi Commercial Bank Lord Krishna Bank Madhavpura Mercantile Cooperative Bank Mercantile Bank of India, London and China Miraj State Bank Nath Bank Nedungadi Bank New Bank of India Oriental Bank Corporation Oudh Commercial Bank Palai Central Bank Pandyan Bank Sikkim Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Saurashtra State Bank of Travancore Times Bank United Industrial Bank United Western Bank
Interbank networks	Cirrus NFS PLUS
Electronic funds transfers	BBPS IMPS NEFT RTGS UPI (VPA) AEPS BHIM
Cards	MasterCard Debit MasterCard Maestro RuPay Visa Visa Debit Visa Electron Visa payWave
Related topics	ATM usage fees in India De-Materialisation (DEMAT) Foreign Exchange (FOREX) Indian Financial System Code (IFSC) List of banks in India Prepaid Payment Instruments in India Institiutes Banks Board Bureau Banking Codes and Standards Board of India National Payments Corporation of India Protocol Bharat Bill Payment System Structured Financial Messaging System (SFMS)
ATM networks	BANCS Cashnet CashTree India 1 ATM (White Label ATM) Indicash (White Label ATM) MITR
Payment service	Atom BHIM BillDesk CCAvenue Chillr CitrusPay (Lazy Pay) Razorpay Tez Zeta India Digital wallets ABPB Wallet Amazon Pay Freecharge HDFC PayZapp ICICI pockets Mobikwik Oxigen Services Paytm PayU Payworld PhonePe SBI buddy

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