About Us

An introduction to NPCI and its various products

National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013), with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. The Company is focused on bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.

The ten core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank Limited, HDFC Bank Limited, Citibank N. A. and HSBC. In 2016 the shareholding was broad-based to 56 member banks to include more banks representing all sectors. In 2020, new entities regulated by RBI were inducted, consisting of Payment Service Operators, payment banks, Small Finance Banks, etc. The shares were allotted pursuant to issuance of equity shares on private placement basis in compliance to the applicable provisions of the Companies Act, 2013.

Our Journey

NPCI, during its journey, has made a significant impact on the retail payment systems in the country. Dedicated to the nation by our former President, Shri Pranab Mukherjee, endorsed by the Hon’ble Prime Minister, Shri Narendra Modi and later made the card of choice for the ambitious Pradhan Mantri Jan Dhan Yojana, RuPay is now a known name.


RuPay is an Indigenously developed Payment System – designed to meet the expectation and needs of the Indian consumer, banks and merchant eco-system. RuPay supports the issuance of debit, credit and prepaid cards by banks in India and thereby supporting the growth of retail electronic payments in India.

RuPay is well poised to explore innovative payment opportunities such as Contactless – offline and online to drive adoption of low value payments. All RuPay Cards will now have the functionality of NCMC which can enable low value contactless payments (like transit, toll, parking, retail) using Offline technology.

The alliances with international network partners (Discover Financial Services, Japan Credit Bureau and China Union Pay) provides valuable access to global acceptance footprint and offer world class payment solutions to RuPay cardholders.


With Immediate Payment Service (IMPS), India has become the leading country in the world in real time payments in retail sector.


National Automated Clearing House (NACH), an offline web based system for bulk push and pull transactions. NACH provides electronic mandate platform to register mandates facilitating paper less collection process for the corporates and banks. It provides for both account based and Aadhaar based transactions.


Aadhaar Payment Bridge (APB) System is helping the Government and Government agencies in making the Direct Benefit Transfers for various Central as well as State sponsored schemes.


To access these funds at door step & drive the financial inclusion in India, Aadhaar enabled Payment System (AePS) has been introduced. Since inception it has become instrumental to increase accessibility of basic banking services in underserved areas. To extend the convenience of biometric to merchant payments, BHIM Aadhaar has been launched by Hon'ble Prime Minister Narendra Modi.


National Financial Switch (NFS) is the largest network of shared Automated Teller Machines (ATMs) in India facilitating interoperable cash withdrawal, card to card funds transfer and interoperable cash deposit transactions among other value added services in the country.


Unified Payments Interface (UPI) has been termed as the revolutionary product in the payment system.

Bharat Bill Payment System

Bharat Bill Payment System is offering one-stop bill payment solution for all recurring payments with 200+ Billers in the categories Viz. Electricity, Gas, Water, Telecom, DTH, Loan Repayments, Insurance, FASTag Recharge, Cable etc. across India.


National Payments Corporation of India (NPCI) has developed the National Electronic Toll Collection (NETC) program to meet the electronic tolling requirements of the Indian market.

It provides an electronic payment facility to customer to make the payments at national, state and city toll plazas by identifying the vehicle uniquely through a FASTag. FASTag are Radio-Frequency Identification (RFID) stickers which are affixed on the vehicle windshield and enable the driver to make toll payments electronically while the vehicle is in motion without stopping at the Toll plazas by saving Fuel and Time.

With these products the aim is to transform India into a ‘less-cash’ society by touching every Indian with one or other payment services. With each passing year we are moving towards our vision to be the best payments network globally.


DPSS at its meeting held on September 24, 2009 had given an in-principle approval to issue authorization to NPCI for operating various retail payment systems in the country and granted Certificate of Authorization for operation of National Financial Switch (NFS) ATM Network with effect from October 15, 2009. NPCI had deputed its officials to IDRBT Hyderabad and had taken over NFS operations on December 14, 2009. Membership regulations and rules had been framed for enrolling all banks in the country as members. This was done so that when the nation-wide payment systems are launched, all would get included on a standardized platform.

A Technical Advisory Committee was constituted with two eminent professors of IIT, Mumbai. Prof. N.L. Sarda is the Chairman and Prof. G. Sivakumar is the Co-Chairman of the Technical Advisory Committee. Members in these committees are from banks at the level of Deputy General Manager and Asst. General Manager.


The values define the success of most of the companies. At NPCI, our values have shaped our culture, our work ethics, and our decisions; helping us push our limits and strive for a better today thus laying the foundation for a successful tomorrow.

As you dive deep into our core values you will explore what defines us and our work environment:

Passion For Excellence

In our passionate quest for excellence, we do all that is needed to deliver value to our stakeholders: total commitment to their success would mean being accountable to the promises made or implicit, and being proactive and innovative. We believe in always remaining agile and setting standards that others adopt or learn from through creativity and constant innovations.


Integrity, for us, means and includes fairness, mutually trusting relationships, belief in inclusiveness and being non-discriminatory, and honest in all our transactions: internally within NPCI and with the external world. Acting with integrity is key to building and maintaining trust. And, trust and credibility become brand values that will help us fulfil our vision “to be the best payments network globally”.

Customer Centricity

We strive to provide the most positive and seamless experience to all our customers, irrespective of size, location, level of interphase et al. We pre-empt our customers’ likely future needs and expectations and bring about innovations in our products and services, in proactive anticipation even before the need has arisen.


We believe that treating people with respect and dignity is the key to developing and maintaining enduring relationships on which strong, collaborative partnerships with all other stakeholders are built. We value and celebrate people diversity. Being respectful also means that we trust our people with the requisite authority to deliver on clearly defined accountabilities.


Collaboration is about bringing people together and working jointly with them. It involves soliciting others opinion/inputs & ensuring their willing participation. Underlying reasons for the conflicts are brought to the surface and confronted in a ‘collaborative spirit’. Problems are resolved collectively. Requisite/relevant and useful information is openly shared with others. This creates an environment that enhances cross – organizational exchange of ideas and information.