National Payments Corporation of India (NPCI)
The National Payments Corporation of India (NPCI) is an Indian organization that operates the country’s retail payment and settlement systems. In simple words, most of the online transactions we make in our daily lives are processed through NPCI. In this article, we will discuss how NPCI makes this possible.
NPCI is a public sector initiative established by the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA). It was founded in December 2008 as a not-for-profit company.
NPCI manages and supports various systems for daily online money transfers. We are all familiar with UPI (Unified Payments Interface) — that’s one of NPCI’s most popular services and a major part of our daily digital transactions.
Apart from UPI, NPCI provides several other important services such as:
IMPS (Immediate Payment Service)
NACH (National Automated Clearing House)
APBS (Aadhaar Payments Bridge System)
AePS (Aadhaar Enabled Payment System)
NFS (National Financial Switch)
NETC FASTag
Bharat BillPay
RuPay (India’s domestic card payment network)
Without NPCI, online banking and digital payments in India would not be possible.
In this article, we will explain each of these NPCI services step by step.
