Company Directory - National Payments Corporation of India (NPCI)
Company Details - National Payments Corporation of India (NPCI)
National Payments Corporation of India (NPCI)
WebsiteMumbai, India
NPCI is an organization responsible for creating and managing India's digital payment infrastructure, including the Unified Payments Interface (UPI). It aims to support a cashless economy by enabling seamless and secure transactions between various financial institutions.
CCI Score
CCI Score: National Payments Corporation of India (NPCI)
1.88
Latest Event
NPCI Enforces Compliance on UPI API Usage
NPCI issued a warning letter to fintech companies, directing them to cease the unauthorized use of UPI APIs for purposes beyond payment facilitation and fraud prevention, reaffirming the intended use of its digital payment infrastructure.
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OBJECTOR
National Payments Corporation of India (NPCI) is currently rated as an Objector.
Latest Events
- OCT242024
NPCI issued a warning letter to fintech companies, directing them to cease the unauthorized use of UPI APIs for purposes beyond payment facilitation and fraud prevention, reaffirming the intended use of its digital payment infrastructure.
+30
Business Practices and Ethical Responsibility
April 12
NPCI's action to warn fintech companies reinforces its commitment to upholding ethical business practices and regulatory compliance. By ensuring that the UPI APIs are used solely for sanctioned purposes, NPCI protects users from potential abuses and maintains the integrity of India's digital payment ecosystem.
+25
Technology and Services Impact
April 12
By clarifying that UPI APIs must not be used for non-sanctioned verification services, NPCI is safeguarding the proper use of technology within its payment ecosystem. This enforcement helps prevent the potential misuse of sensitive user data and ensures the technology serves its intended purpose.
- NOV232023
The Supreme Court is set to hear a plea filed by Rajya Sabha MP Binoy Viswam that accuses NPCI and RBI of failing to safeguard sensitive UPI platform data by permitting non-compliant foreign tech firms to participate. The petition alleges that this regulatory laxity compromises user data protection and breaches RBI guidelines, with the hearing scheduled for November 23, 2023.
-15
Public and Political Behavior
April 12
NPCI is implicated in a legal plea highlighting its failure to fully uphold its statutory duties in protecting sensitive digital payment data. This shortfall raises public concerns about the integrity of its regulatory commitments in the UPI system.
-40
Business Practices and Ethical Responsibility
April 12
The allegations point to NPCI’s questionable business practices by permitting major foreign tech players onto the UPI platform in a manner that sidesteps strict compliance with RBI regulations, thereby undermining ethical responsibility towards user data protection.
-35
Technology and Services Impact
April 12
By allegedly allowing the integration of non-compliant foreign tech firms into the UPI ecosystem, NPCI is criticized for not ensuring secure and responsible technological management of sensitive user data, raising concerns over the platform's integrity.
-30
Economic and Structural Influence
April 12
The judicial plea contends that NPCI’s approach undermines the structural integrity of India's financial data ecosystem, potentially compromising national economic sovereignty by allowing lax regulatory environments to persist.
- NOV012023
In November 2023, NPCI appointed actor Pankaj Tripathi as its 'UPI Safety Ambassador' and rolled out a UPI Safety Awareness Campaign featuring a series of ad films to educate users on digital payment frauds.
+20
Public and Political Behavior
April 12
NPCI's campaign uses public messaging to enhance consumer protection through factual information about UPI frauds. This public engagement helps build trust in digital payments, which is a positive civic action in a complex political environment.
Fact Check: No, Pankaj Tripathi DID NOT campaign against ... - India Today
+50
Business Practices and Ethical Responsibility
April 12
By launching a campaign that informs consumers about digital payment scams, NPCI reinforces its commitment to ethical business practices and public welfare. This initiative promotes transparency and accountability in the digital payments space.
Fact Check: No, Pankaj Tripathi DID NOT campaign against ... - India Today
+30
Technology and Services Impact
April 12
The campaign indirectly supports responsible use of technology by educating the public on digital payment scams, thus promoting the safe and secure use of digital financial services.
Fact Check: No, Pankaj Tripathi DID NOT campaign against ... - India Today
- JAN012019
The article analyzes how government mandates, including banning fee charges and mandating UPI acceptance for large businesses, have concentrated market power in NPCI, potentially stifling competition and innovation in digital payments.
-40
Economic and Structural Influence
April 12
Government policies mandating UPI usage and banning fees have resulted in NPCI acquiring dominant market power. This concentration of influence restricts competition and may lead to reduced accountability and innovative incentives, fostering conditions that align with authoritarian structural tendencies.
Comparing India’s UPI and Brazil’s Pix | How Censorship Shaped Literature and Expression
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