Milestones | NPCI - National Payments Corporation of India

January 2010

National Financial Switch (NFS) is the largest network of shared Automated Teller Machines (ATMs) in India.

NOVEMBER 2010

IMPS provides robust & real time fund transfer which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels like Mobile, Internet, ATM, SMS, Branch and USSD(*99#).

NOVEMBER 2010

AePS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.

April 2011

Some of the benefits : Extended cut off time for acceptance of Customer Cheques by banks. Easy retrieval of information. Reduced timelines for clearing.

March 2012

RuPay, a new card payment scheme launched by the National Payments Corporation of India (NPCI), has been conceived to fulfill RBI’s vision to offer a domestic, open-loop, multilateral system which will allow all Indian banks and financial institutions in India to participate in electronic payments.

December 2012

National Payments Corporation of India (NPCI) has implemented “National Automated Clearing House (NACH)” for Banks, Financial Institutions, Corporates and Government a web based solution to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature.

February 2013

August 2014

*99# service has been launched to take the banking services to every common man across the country. Banking customers can avail this service by dialing *99#, a “Common number across all Telecom Service Providers (TSPs)” on their mobile phone and transact through an interactive menu displayed on the mobile screen.

April 2016

Pilot launch of UPI

August 2016

UPI went live on Playstore

December 2016

NETC FASTag was Launched

December
2016

Bharat Interface for Money (BHIM) is an app that lets you make simple, easy and quick payment transactions using Unified Payments Interface (UPI). You can make instant bank-to-bank payments and Pay and collect money using just Mobile number or Virtual Payment Address (VPA).

March 2017

NPCI jointly worked with the ICS (International Card Schemes) to develop a common standard QR code specifications. Merchants can display these QR codes at their premises and customers can pay through their card linked account/ VPA / IFSC + Account/ Aadhaar by scanning these QR codes via Bharat QR enabled application in an interoperable environment.

April 2017

June 2017

Introduction of RuPay Credit Card

October 2017

Bharat BillPay is the consumer brand of BBPS. The Bharat bill payment system is a Reserve Bank of India (RBI) conceptualised system driven by National Payments Corporation of India (NPCI). It is a one-stop payment platform for all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India with certainty, reliability and safety of transactions.