National Payments Corp to take UPI, Rupay global through new subsidiary

National Payments Corporation of India (NPCI) is taking its business beyond Indian shores through its subsidiary NPCI International Payments Limited (NIPL).
 

It wants to take its products UPI and RuPay Card global and assist other countries in establishing a ‘real time payment system’ or a ‘domestic card scheme’.
 

The primary focus of the subsidiary would be the internationalisation of RuPay and UPI, along with a some other NPCI offerings. Several nations have displayed an inclination towards establishing a ‘real time payment system’ or ‘domestic card scheme’ inspired by the exemplary innovations by NPCI in the country, the NPCI said in a statement.

The growth and evolution of NIPL will result in a huge acceptance network for RuPay and UPI which in turn will empower Indian travelers to use homegrown payment channels.
 

Several countries such as Asia, Africa and the Middle East have showed interest in replicating our model in their own nations.

Meanwhile, it has appointed Ritesh Shukla as the chief executive officer of NIPL. His primary responsibilities would involve the formulation of a business strategy, leading business development and driving profitability by deploying NPCI’s pre-existing technology and solutions in international markets.
 

Prior to joining NPCI, Shukla was a part of Mastercard’s business in Middle East and North Africa (MENA).
 

Shukla would be supported with Anubhav Sharma, Head International Business – Partnership, Business Development & Marketing and Rina Penkar, Head International Business - Product Development, as part of NIPL’s core team.