MUMBAIInde, September 5, 2024 /PRNewswire/ — La National Payments Corporation of India (NPCI), a key architect in the evolution of the retail payments landscape in India, showcased its transformative products and innovations at the Global Fintech Fest (GFF) 2024, with a pavilion that encapsulates the future of digital payments in India, resonating with the event’s theme, “Blueprint for the next decade of finance: responsible, inclusive, resilient AI”.
Each section of the pavilion has been meticulously designed to deliver an immersive experience, allowing delegates from around the world to engage with the latest advancements in digital payments and understand NPCI’s transformative impact on the fintech landscape.
The Honourable Prime Minister of India, Shri Narendra Modivisited the NPCI pavilion, where he was captivated, along with the Governor of the Reserve Bank of IndiaShri Shaktikanta Das, through demonstrations of the latest technological advancements in digital payments.
A Journey Through Innovation: Highlights of the NPCI Pavilion
The pavilion featured distinct zones dedicated to UPI, RuPay, NPCI Bharat BillPay, and NPCI International, each offering a deep dive into the future of digital transactions. These zones were experience hubs where attendees could witness the power and potential of NPCI’s innovations.
• Zone UPI: This zone allowed visitors to interact with cutting-edge payment solutions by showcasing innovations such as UPI Circle, which allows users UPI of delegate payments to their trusted secondary users, and enhanced credit features on the BHIM app. The UPI ATM, a key attraction, gave a glimpse of seamless integration of cash deposits and withdrawals with UPI, revolutionizing traditional banking interactions.
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Developed by NPCI, the Unified Payments Interface (UPI) is a real-time payment system that facilitates person-to-person (P2P) and person-to-merchant (P2M) transactions.
• Zone RuPay : Designed as a bus symbolizing the mobility and accessibility of RuPay’s offerings, this zone showcased the National Common Mobility Card (NCMC) technology along with a vending machine where visitors could seamlessly get their RuPay NCMC issued. In addition, attendees could acquire all the trendy payment accessories that go beyond the traditional card as a form factor directly from the RuPay On-The-Go (OTG) vending machines, showcasing the ease and convenience of RuPay’s latest innovations.
Developed by NPCI, RuPay is a global card network in India, widely accepted across stores, ATMs and e-commerce in India and abroad.
• NPCI Bharat BillPay and NPCI International Zones : These zones underscore NPCI’s commitment to expanding the reach of digital payments, both in India and abroad. NPCI Bharat BillPay showcased the next generation of bill payment solutions like Bharat BillPay for Business, while NPCI International showcased how India’s digital payment infrastructure is making waves globally.
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