Initiates FINSPIRE-Payment Inspirational series along with Member Banks
Mumbai: National Payments Corporation of India (NPCI), the umbrella organization for all retail payments system in the country brings together executives of banking fraternity to demonstrate NPCI’s cutting-edge services to benefit end-consumers.
54 Banks, comprising of 26 Public Sector Banks, 19 Private Banks and 10 Foreign Banks are slated to partake in the enriching drives over next two months, of which, 30 banks have successfully concluded the conferences. FINSPIRE themed training campaigns are primarily directed on familiarizing technologically advanced, cost-effective and customer friendly products of NPCI like RuPay – India’s own payment instrument, IMPS - Immediate Payment Service and NUUP *99# National Unified USSD Platform (NUUP) which provides access to banking services with a single number across all banks.
NPCI representatives will also demonstrate offerings and functionalities of National Automated Clearing House that serves as a one-stop-solution for all payment and collection requirements, National Financial Switch which provides interoperable network to ATMs, RuPay e-Commerce etc.
“NPCI has been at the forefront to empower patrons with comprehensive payment services. By organizing such campaigns, we aspire to build appropriate awareness among our stakeholders so as to encourage customers to perform digital payments and create a less-cash society.” said Shri A P Hota, Managing Director & CEO, NPCI.
The number of RuPay card issuance has grown to over 200 million. NPCI has launched RuPay Platinum Debit Card that comes with various offers and is issued by more than 18 banks.
National Payments Corporation of India (NPCI), which has been set up in 2009 as the central infrastructure for various retail payment systems in India, was envisaged by the Reserve Bank of India as the payment utility for all banks in the country. During the last five years, the organization has grown multi-fold from 2 million transactions a day to 20 million transactions now. From a single service of switching of inter-bank ATM transactions, the range of services have grown to Cheque Clearing, Immediate Payments Service money transfer (24x7), Automated Clearing House, Electronic Benefit Transfer and a domestic card payment network named ‘RuPay’ to provide an alternative to international card schemes. Currently there are 200+ Million RuPay cards in the country.