Source Name: National Payments Corporation of India (NPCI)

NPCI Hosts ‘International Conference on National Payment Systems’ in India

40 international delegates from 17 countries partake in first of its kind event

May 21, 2015   16:00 PM 
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India

National Payments Corporation of India (NPCI), the umbrella organization for all retail payments system in the country, brings together CEOs and senior executives of national payment systems of 17 countries at the two-day “International conference on National Payment Systems” in Mumbai during May 21-22, 2015. The event covered various issues including- evolution & growth of national systems; dynamics of global payments market; migrant remittances, cyber security; mobile payments etc.

 

The conference was inaugurated today by Shyamala Gopinath, Former Deputy Governor, Reserve Bank of India (RBI). G Padmanabhan, ED, RBI was the Guest of Honor. KPMG India, CAFRAL- the Advanced Financial Learning Centre of RBI and World Bank are the knowledge partner of the event.

 

Major card and payment system companies such as UnionPay International (China), Discover Financial Services (USA), Japan Credit Bureau (Japan), Vocalink (UK), Interac Association (Canada), EFTPOS Payments (Australia), Malaysian Electronic Payment System (Malaysia), Interswitch (Nigeria), LankaClear (Sri Lanka) were present in the conference to exchange their respective views on payment system and shared future outlook of global market.

 

“The conference is a benchmark platform for us to formulate our strategy to fulfill the vision of touching Indian with one or other electronic payment systems,” says Mr A P Hota, MD & CEO, NPCI. It would also help us to craft our plan to launch RuPay Credit card in early 2016,” he added. The number of RuPay card issuance has grown to over 160 million. NPCI has launched RuPay Platinum Debit Card, which is functional at all payment channels including ATMs, PoS & ecommerce, that comes with various offers and is issued by more than 17 banks. NPCI to launch RuPay credit card by 2016.

 

About NPCI

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 18 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.