India's National Payments Corporation of India (NPCI) has established a wholly owned technology subsidiary to broaden its presence in emerging technologies, digital financial infrastructure, and Global Capability Centre (GCC) services beyond its traditional payments operations.

NPCI, which was set up under the aegis of the Reserve Bank of India and the Indian Banks' Association, operates several of the country's core retail payment systems, including the Unified Payments Interface (UPI), the interbank transfer system widely used for day-to-day digital payments between individuals and merchants across India. The new entity, NPCI Tech Solutions Limited (NTSL), will function as the technology and innovation arm of the NPCI Group. Vishal Kanvaty has been appointed Managing Director and Chief Executive Officer, tasked with leading the subsidiary and overseeing its expansion into new technology domains.

NTSL to Focus on AI, Blockchain and Digital Infrastructure

NTSL will develop capabilities in artificial intelligence (AI), blockchain, digital financial infrastructure, and Global Capability Centre services, extending NPCI's technology operations beyond its core payments mandate. GCCs are dedicated in-house units through which organizations centralize technology development, business operations, and support functions.

The subsidiary is expected to support growing demand for advanced technology solutions across India's financial services ecosystem. Its creation reflects NPCI's broader strategy to reinforce its technology capabilities and participate in emerging areas of digital innovation.

AI and blockchain are among the technologies drawing increasing attention from financial institutions and infrastructure providers. Potential applications include improving operational efficiency, strengthening digital systems, automating processes, and supporting new financial services. Through a dedicated subsidiary, NPCI aims to establish a separate organizational structure for developing and commercializing technology solutions in these areas, a move that could also enable the group to extend its services to a wider range of digital infrastructure initiatives.

Subsidiary to Support eKYC Setu and Unified Ticketing Platform

NTSL will also provide technology services for several digital infrastructure initiatives, including eKYC Setu and the Unified Ticketing Platform (UTP). Both form part of the broader effort to strengthen India's Digital Public Infrastructure (DPI) ecosystem, the shared digital platforms — spanning identity, payments, and data-exchange layers — on which public and private digital services are built.

The subsidiary's involvement is expected to support the development and operation of technology platforms that facilitate digital identity verification, financial services, and integrated public infrastructure. eKYC refers to the electronic know-your-customer process, which allows customer verification to be completed digitally. The expansion into GCC services further creates opportunities for NPCI to deliver technology capabilities through specialized service operations. Such centers can support technology development, business operations, and digital transformation requirements across different sectors.

The new structure could help NPCI address technology requirements that extend beyond payment processing, while opening additional opportunities to build solutions for India's expanding digital economy.

Vishal Kanvaty Appointed to Lead NTSL

Kanvaty has been associated with NPCI for nearly a decade and has played a role in developing and commercializing several technology and market innovation platforms. His prior experience is expected to support the subsidiary's efforts to establish capabilities across AI, blockchain, digital infrastructure, and other emerging technology segments.

His appointment also provides leadership continuity as NPCI expands its technology operations into areas that require specialized expertise and commercial development strategies.

NPCI Strengthens Its Technology Expansion Strategy

NPCI Managing Director and CEO Dilip Asbe indicated that technology has remained central to the organization's development and its contribution to India's digital transformation. He explained that advances in AI and other emerging technologies are creating new opportunities across digital infrastructure and financial services. According to Asbe, NTSL was established to concentrate on these opportunities and strengthen the technology capabilities of the wider NPCI Group.

Asbe also expressed confidence that Kanvaty's experience and leadership would help guide the subsidiary's development and establish its future direction.

Strategic Expansion Beyond Payments

The establishment of NTSL marks a strategic expansion of NPCI's operations, positioning the organization to participate more directly in emerging technology markets while supporting India's evolving Digital Public Infrastructure ecosystem.

The subsidiary's progress will depend on its ability to develop commercially viable technology services and contribute to the implementation of large-scale digital infrastructure projects. Its activities could also help expand NPCI's role beyond payments into that of a broader technology services provider.

With dedicated leadership and a wider technology mandate, NTSL represents a new phase in NPCI's efforts to support India's digital transformation. The rollout of its early assignments — eKYC Setu and UTP among them — will offer a first measure of how far the group's reach now extends beyond payments.

This article is based on reporting by CoinTrust.