NPCI sets up subsidiary for exporting UPI to international markets: RBI governor

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NPCI sets up subsidiary for exporting UPI to international markets: RBI governor

The National Payments Corporation of India (NPCI) has setup a subsidiary to export the much acclaimed Unified Payment Interface or UPI for governments and central banks interested in implementing similar instant fund transfer in their countries, Reserve Bank of India governor Shaktikanta Das said here on Monday.

The subsidiary, apart from taking the technology to foreign markets, will also look at various business propositions exporting the payment solution will bring to the NPCI.

RBI has played an important role in setting up UPI,” said governor Das, address an industry gathering at Times Network’s India Economic Conclave. “NPCI has setup a subsidiary to take UPI to other countries and look at business propositions such an export will bring for themselves.”

The governor, citing Bank of International Settlement’s (BIS) recently released paper which hailed India’s digital financial infrastructure, said that UPI is being “internationally watched.”

NPCI has decided to set up a subsidiary to focus on taking UPI model to other countries and to make it a business proposition in those countries and make it a business proposition for UPI.

The announcement on setting up of the NPCI’s export subsidiary also comes days after global search engine Google had written to US central bank Fed to adopt a similar payment infrastructure as India citing the UPI example.

UPI was thoughtfully planned and critical aspects of its design led to its success,” Google vice president Mark Isakowitz, Google’s vice president had written. “The approach in India attained amazing results for banks, consumers and other players within the payments ecosystem and the central bank.”

9 Comments  |  
5 Dimers
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Deal Cadet
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Stupidity on tax payers money.
Int ppl already have eftpos n free fund transfer

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jambui wrote:

Stupidity on tax payers money.
Int ppl already have eftpos n free fund transfer

do you know what is NPCI ?

who is funding ? who are the promoters of NPCI ?

Why our Indian currency always falling ?

why chinese currency always stronger than India ?

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Deal Cadet
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abhishek012 wrote:

do you know what is NPCI ?

who is funding ? who are the promoters of NPCI ?

Why our Indian currency always falling ?

why chinese currency always stronger than India ?

No and I don’t want to know. You are right and won! Bye.

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jambui wrote:

No and I don’t want to know. You are right and won! Bye.

lol,

only few countries have Real-Time instant interbank transfer facility.

in fact, some developed countries dnt have Real-Time instant interbank transfer facility like USA & some European countries.

NPCI’s subsidiary will launch UPI to other countries, already 50+ developed countries approach NPCI for UPI service.

NPCI will charge few percent of every transaction & NPCI’s subsidiary will help to expand our Indian digital technology Globally.

Today Visa card is Virtually biggest bank Globally.

Visa card k pas aaj itne paise ha ki woh humare SBI, HDFC, ICICI, Kotak jaise bade banks ko 2 bar kharid k bech dega.

NPCI is not-for-profit company, subsidized by bank owners (similar to Visa & Mastercard Pre IPO before 2008).

Today, UnionPay International (subsidiary of China’s UnionPay card) & JCB International (subsidiary of Japan’s JCB Card) follow the same path.

UnionPay International already surpass Visa card and rapidly expanding Globally & next few decades China’s UnionPay will get Virtually biggest bank Globally or maybe 2nd after Visa card.

I think NPCI is already Profitable company but NPCI need more money to expand Globally and research & development on new technology.

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Critic
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Actually the UPI model has been suggested to the US Federal Govt as a model for introducing real time online fund transfer.

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Ye kya offer ha plz help me

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mohavgvbcgf wrote:

Ye kya offer ha plz help me

yeh offer nhi ha.

yeh Desidime me “Dost And Dimes” ki woh gaaliya he jaha hum bhartiya, desh bidesh ka samachar ek dusre se share krte ha, apas me milte ha. bidi cigarette fukte ha, apne apne hasiyat k hisab se sath me mil kar. phir apni apni jindegi k patli gaaliyo se nikal lete ha.

offers chahiye toh Desidime k front page me jao ya phir “Hot Deals – Online” ki gaaliyo me, woha log apne offers k bazaar lagate ha. stuck_out_tongue smile

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Deal Subedar
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jambui wrote:

Stupidity on tax payers money.
Int ppl already have eftpos n free fund transfer

UPI has already been proven to be revolutionary.
So many countries are trying to implement it now.

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abhishek012 wrote:

yeh offer nhi ha.

yeh Desidime me “Dost And Dimes” ki woh gaaliya he jaha hum bhartiya, desh bidesh ka samachar ek dusre se share krte ha, apas me milte ha. bidi cigarette fukte ha, apne apne hasiyat k hisab se sath me mil kar. phir apni apni jindegi k patli gaaliyo se nikal lete ha.

offers chahiye toh Desidime k front page me jao ya phir “Hot Deals – Online” ki gaaliyo me, woha log apne offers k bazaar lagate ha. stuck_out_tongue smile

Ok bro thanks

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