National Payments Corporation of India (NPCI), a key architect in the evolution of India's retail payments landscape, showcased its transformative products and innovations at the Global Fintech Fest (GFF) 2024, with a pavilion that encapsulates the future of digital payments in India, resonating with the event’s theme, ‘Blueprint for the Next Decade of Finance: Responsible AI, Inclusive, Resilient’. Each section of the pavilion has been meticulously designed to provide an immersive experience, allowing delegates from around the world to engage with the latest advancements in digital payments and understand NPCI’s transformative impact on the fintech landscape.
A Journey Through Innovation: NPCI Pavilion Highlights
The pavilion features distinct zones dedicated to UPI, RuPay, NPCI Bharat BillPay, and NPCI International, each offering a deep dive into the future of digital transactions. These zones are experiential hubs where attendees can witness the power and potential of NPCI’s innovations.
- UPI Zone: Demonstrating innovations like UPI Circle, wherein UPI users can delegate payments to their trusted secondary users, and enhanced credit features on BHIM app, this zone allows visitors to interact with cutting-edge payment solutions. The UPI ATM, a key attraction, offers a glimpse into the seamless integration of cash deposits and withdrawals with UPI, revolutionising traditional banking interactions. Developed by NPCI, Unified Payments Interface (UPI) is a real-time payment system that facilitates Person to Person (P2P) and Person to Merchant (P2M) transactions.
- RuPay Zone: Designed as a bus to symbolise the mobility and accessibility of RuPay’s offerings, this zone features NCMC technology along with a dispensing machine where visitors can seamlessly get their RuPay NCMCs issued. Furthermore, attendees can acquire any in-trend payment accessories that go beyond the traditional card as a form factor directly from the RuPay On-The-Go (OTG) vending machines, showcasing the ease and convenience of RuPay’s latest innovations. Developed by NPCI, RuPay is a global card network from India with wide acceptance at Shops, ATMs, and e-commerce in India and abroad.
- NPCI Bharat BillPay and NPCI International Zones: These areas highlight NPCI’s commitment to expanding the reach of digital payments, both within India and internationally. NPCI Bharat BillPay demonstrates the next generation of bill payment solutions like Bharat BillPay for Business, while NPCI International showcases how India’s digital payment infrastructure is making waves globally.
About NPCI:
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India
through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), Aadhaar Enabled Payment System (AePS), National Electronic Toll Collection (NETC) and Bharat BillPay. NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
