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National Payments Corporation of India

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

National Payments Corporation of India
भारतीय राष्ट्रीय भुगतान निगम
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]
Number of employees



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]


The corporation service portfolio now and in the future include:


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 ContactlessEdit

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

Unified Payments InterfaceEdit

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 BillPayEdit

Integrated bill payment system

Immediate Payment ServiceEdit

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.


USSD channel of Unified Payments Interface. 9343210290

National Automated Clearing HouseEdit

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

Cheque truncation systemEdit

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 SwitchEdit

Network of shared automated teller machines in India.

Aadhaar Enabled Payment SystemEdit

A network of Micro ATM using Aadhaar authentication.


A common QR code built for ease of payments

BHIM Aadhaar PayEdit

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 CollectionEdit

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 alsoEdit


  1. ^ "National Payments Corporation of India". Retrieved 2011-03-16.
  2. ^
  3. ^
  4. ^ "Mobile money transfer fee cut to 10p". 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 linksEdit