Page 19 - Npci

Creating a unified pension platform

Recent plans announced by the government and the regulator are important steps towards empowering subscribers

WhatsApp reaching compliance, payments service may start in 2 months: NPCI

WhatsApp has been running a beta version of its payments service since last year in the country, and its official launch is being keenly watched by stakeholders

UPI bucks slowdown, records highest ever volume in September at 955 mn

Total value of transactions surpasses Rs 1.6 trillion, or 4.5% higher than that achieved in August

With UPI & IMPS services, NPCI leads retail payments space growth in FY19

The RBI, in January, put out a policy paper that pondered the need for more retail payment system operators since NPCI is the sole umbrella organisation for most retail payments currently

NPCI asks banks to reject UPI transactions from non-compliant apps

Circular makes it mandatory for all UPI apps to support transmission of money through VPA, generate QR codes for Bharat QR or UPI QR

NPCI names Dilip Asbe as interim CEO, AP Hota retires

National Payments Corporation of India (NPCI) said it has named its chief operating officer Dilip Abse as the CEO-in-charge by the board till a new incumbent assumes charge.His appointment follows the retirement of MD and CEO AP Hota following his retirement on 10th August. Hota had headed NPCI since its inception in 2010, said a statement from the organisation.Hota spent most of his career in designing payment systems in India introducing MICR, RTGS and NEFT among others. He led the Payments and Settlements Systems department of Reserve Bank of India (RBI) prior to joining NPCI. Recently, NPCI was in the news for hitting 1 billion transactions in July. Asbe has also been a part of NPCI since 2010. Together, Hota and Asbe, implemented payment processing platforms like Unified Payment Processing Interface (UPI), Bharat Interface for Money (BHIM), RuPay card network and Aadhar enabled Payment System (AePS) among others. Asbe has worked in the digital payments sector since the beginning .

NPCI hits 1 billion transaction mark in July

The transactions pertain to all types of payments handled by NPCI from cheque and ATM

NPCI gets RBI go-ahead for Bharat Bill Payment Central Unit

National Payments Corporation of India has received final authorization from Reserve Bank of India to function as the Bharat Bill Payment Central Unit (BBPCU) and Bharat Bill Payment System (BBPS).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."Nearly 45 crore bills which comprises of Electricity, Telecom, DTH, Water and Gas are permitted under BBPS. This initiative will provide a major push to digital payments as it is a big step forward in formalising the bill payment system in the country," said A P Hota, MD & CEO, NPCI.The approval process consisted of almost a year long cycle of streamlining business and technology processes till RBI was satisfied with the performance of eight participating BBPS units.Twenty Four units have received clearance to operate as the Bharat Bill Payments Operating Unit (BBPOU) spread

NPCI expects all banks to switch to digital payments by Mar 2018

Govt of India has set a target of 25 billion digital transactions in this financial year

NPCI commences project to digitise MFI transactions

Currently, there are 268 MFIs catering to over 40 million low income customers

NPCI waives switching fee for RuPay card transactions

This waiver has been made with effect from November 11 till December 31

Axis, RBL & other banks take stake in NPCI

Urban cooperative banks and RRBs also come on board

NPCI widens shareholding base to 56 banks

Addition of new banks has increased NPCI's paid up capital to Rs 133 crore from Rs 100 crore

NPCI begins pilot for Bharat Bill Payment System

BBPS to link all major billers with all their consumers, simplifying bill presentment and bill payments electronically

NPCI launches Bharat Bill Payment System pilot project

BBPS is the Reserve Bank mandated system which will provide interoperable bill payment services to customers

Unified Payments Interface to go live for 21 bank customers

According to NPCI, UPI application of 19 banks can be downloaded from Google Play Store in next 2-3 working days

Wait for 2 months to transact on Unified Payments Interface

Of the 29 banks that have tied up with the National Payments Corporation of India, only 10 are ready with the app for the service

NPCI launches next generation online payments solution

It will empower users to perform instant push, pull transactions and transform the way people make payments today