NPCI runs the electronic retail payments infrastructure in India. Card payment scheme RuPay, payments system Immediate Payment Service, Unified Payments Interface, National Electronic Toll Collection, Aadhaar Enabled Payment System, and Bharat Bill Payment System are some of the products it offers. Some quarters have demanded that NPCI should be converted into a for-profit organization to survive competition. Recently, NPCI raised ₹82 crore via private placement of 4.63% of its equity shares to 19 new banks, non-banks and parent entities of digital payment companies. Several countries across Asia, Africa and the Middle East have evinced interest in replicating India’s retail payments model.

Source: Mint December 27, 2020 15:45 UTC