NPCI forms NPCI Tech Solutions, a new subsidiary for AI and blockchain
The operator of India's UPI has set up NPCI Tech Solutions Limited, led by former CTO Vishal Kanvaty, to build AI, blockchain and digital public infrastructure technology.
The National Payments Corporation of India (NPCI), which runs the Unified Payments Interface (UPI), has formed a wholly owned technology subsidiary focused on artificial intelligence, blockchain and digital financial infrastructure, TNGlobal reported on November 9.
The new company
NPCI announced the formation of NPCI Tech Solutions Limited (NTSL) on November 4. The unit will act as the group’s technology and innovation arm and build capabilities outside NPCI’s core retail payments business.
According to NPCI’s announcement as cited by TNGlobal, NTSL will work across AI, blockchain, digital financial infrastructure and global capability center services. It will also provide technology services for digital public infrastructure programs, including eKYC Setu and the Unified Ticketing Platform.
Vishal Kanvaty has been appointed managing director and chief executive. Kanvaty was previously NPCI’s chief technology officer and has worked with the organization for almost ten years.
Where it fits in the NPCI group
NTSL is NPCI’s fourth wholly owned subsidiary, after NPCI International Payments, NPCI Bharat BillPay and NPCI BHIM Services. The parent operates India’s main retail payment and settlement systems, including UPI. TNGlobal said NPCI’s careers site was already listing NTSL roles in Hyderabad before the formal announcement, including product development and emerging payment technology jobs.
The AI-payments context
The launch comes as NPCI expands its work on AI-enabled payments. TNGlobal noted earlier reporting that NPCI has been building a registry to identify and monitor AI agents that start UPI transactions.
NPCI chief executive Dilip Asbe said emerging technologies were opening up new possibilities across digital infrastructure and financial services.
What was not disclosed
NPCI did not disclose an investment budget, staffing plan or revenue targets for NTSL, and it did not name any products the subsidiary will launch first.
This report is not legal, financial, or health advice. See the disclaimer.
