The National Payments Corporation of India (NPCI) has set up a wholly owned subsidiary, NPCI Tech Solutions Ltd (NTSL), to build capabilities in AI, blockchain, and digital financial infrastructure beyond its core payments mandate.
The retail payments operator has appointed Vishal Kanvaty, who has been associated with NPCI for nearly a decade, as the subsidiary’s MD and CEO.
NPCI said NTSL will serve as the group’s technology and innovation arm. Its remit will also include global capability centre (GCC) services and technology services for eKYC Setu, the Unified Ticketing Platform (UTP), and other digital public infrastructure (DPI) programmes.
According to NPCI, Kanvaty has led the development and commercialisation of several platforms that now fall within NTSL’s focus areas.
NPCI MD & CEO Dilip Asbe said advances in AI and other emerging technologies are opening up opportunities across digital infrastructure and financial services. The subsidiary has been established to pursue these opportunities and strengthen the group’s technology capabilities, he added.
NPCI did not disclose the subsidiary’s investment outlay, revenue targets, customer pipeline, or timelines for rolling out new services.
The formation follows a series of technology initiatives by NPCI. At the Global Fintech Fest in September, it launched AiNxt and AtOM, platforms aimed at helping enterprises build AI agents and automate workflows across the payments ecosystem.
AiNxt enables enterprises to build, test, and deploy custom AI agents, while AtOM is designed to handle integration, change management, and partner onboarding across UPI, with digitally signed interactions providing audit trails.
NPCI’s work in emerging technologies also includes a multi-year research partnership with IISc , announced in March 2024, covering AI and blockchain.
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