The Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday (September 6) unveiled a suite of payments products developed by the National Payments Corporation of India (NPCI) during the Global Fintech Fest 2023.
These innovative solutions, including Credit Line on UPI, UPI LITE X and Tap & Pay, Hello! UPI — Conversational Payments on UPI, and BillPay Connect — Conversational Bill Payments, are designed to foster an inclusive, resilient, and sustainable digital payments ecosystem.
The homegrown NPCI is an umbrella organisation for facilitating retail payments and settlement in India through the RuPay gateway. It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) to create a robust payments and settlement system.