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Tag: National Payments Corporation of India (NPCI)

WhatsApp’s payments service gets NPCI permission

November 6, 2020
WhatsApp
  • The National Payments Corporation of India (NPCI) has finally approved the Facebook-owned messaging platform “WhatsApp” to roll out its payments service in the country in a “graded” manner.
  • The declaration by NPCI came after the organization made a significant change to its regulations concerning the use of the Unified Payments Interface (UPI).

UPI AutoPay facility started by NPCI for recurring payment

July 22, 2020
UPI AutoPay
  • NPCI has launched the functionality of UPI AutoPay for recurring payments.

Benefits:

  • Customers can now enable recurring e-mandate using any UPI application for recurring payments such as mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds, and loan payments, paying for transit/metro payments among others of up to Rs. 2000. If the amount exceeds Rs. 2000, customers have to execute every mandate with UPI PIN.

NPCI releases AI virtual Artificial Intelligence assistant PAi

May 28, 2020
PAi
  • An Artificial Intelligence (AI) based chatbot “PAi” has been released by the National Payment Corporation of India (NPCI).
  • This chatbot has been launched to spread awareness around NPCI’s products such as FASTag, RuPay, UPI, AePS on a real time basis, hence growing the digital financial inclusion in India.

NPCI starts UPI awareness campaign “UPI Chalega”

February 26, 2020
NPCI and UPI

National Payments Corporation of India (NPCI) has started an industry campaign named “UPI Chalega” to uplift UPI as Easy, Safe, and Instant mode of payment. The “UPI Chalega” campaign is targeted to guide users towards the right usage of Unified Payments Interface (UPI) and help create a habitual change, use of UPI in their daily life.

NPCI Vajra, blockchain-based platform launched

January 23, 2020

The National Payments Corporation of India (NPCI) has launched the Vajra Platform to make payments fast and secure. Based on blockchain technology, the primary highlight of the Vajra Platform is that it automates clearing and settlement of payments, drastically reducing the need for manual reconciliation.

The Vajra Platform uses distributed ledger technology (DLT). It uses a permissions model to ensure that only approved parties are a part of the network. Payment companies can apply to be a part of the network. Once approved, they can deploy the platform using an application programming interface (API) that will be provided by NPCI.