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DEVTECH FINANCE
NPCINATIONAL
PAYMENT
CORPORATION
OF INDIA
BANKING
MADE EASY
NATIONAL PAYMENT CORPORATION OF INDIA
• NPCI, an initiative of the Reserve Bank of India (RBI) and Indian Banking
Association (IBA) is an umbrella organization for operating retail payments
and settlement systems in India.
• It functions under provision of Payment and Settlement Systems Act, 2007.
• It is a not-for-profit organization set up under the provisions of Section 25 of
Companies Act, 1956 (amended as Sec 8 of Companies Act 2013).
• Facilitates easy access to online payment services with variety of banking
products and services.
MAJOR PRODUCTS OFFERED BY NPCI
• IMPS (Immediate Payment Service) is an instant payment inter-bank
electronic funds transfer system in India. Unlike NEFT and RTGS, the
service is available 24*7 throughout the year.
• NFS (National Financial Switch) is the largest network of shared ATMs in
India facilitating convenience banking.
• AePS (Aadhaar-enabled Payment Service) is a bank led model that
allows financial transaction at PoS of any bank using the Aadhaar
authentication through the retail merchant.
• CTS (Cheque Truncation System) facilitates uses of digital signature or
encryption methods to prevent manipulation of data during transition of
cheque clearance.
• UPI (Unique Payments Interface) is a system that makes multiple bank
accounts to be accessed from a single mobile application using mobile no.
or UPI id as unique transaction address.
THANK YOU FOR WATCHING
DEVTECH
FINANCE

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NPCI

  • 2. NATIONAL PAYMENT CORPORATION OF INDIA • NPCI, an initiative of the Reserve Bank of India (RBI) and Indian Banking Association (IBA) is an umbrella organization for operating retail payments and settlement systems in India. • It functions under provision of Payment and Settlement Systems Act, 2007. • It is a not-for-profit organization set up under the provisions of Section 25 of Companies Act, 1956 (amended as Sec 8 of Companies Act 2013). • Facilitates easy access to online payment services with variety of banking products and services.
  • 3. MAJOR PRODUCTS OFFERED BY NPCI • IMPS (Immediate Payment Service) is an instant payment inter-bank electronic funds transfer system in India. Unlike NEFT and RTGS, the service is available 24*7 throughout the year. • NFS (National Financial Switch) is the largest network of shared ATMs in India facilitating convenience banking. • AePS (Aadhaar-enabled Payment Service) is a bank led model that allows financial transaction at PoS of any bank using the Aadhaar authentication through the retail merchant. • CTS (Cheque Truncation System) facilitates uses of digital signature or encryption methods to prevent manipulation of data during transition of cheque clearance. • UPI (Unique Payments Interface) is a system that makes multiple bank accounts to be accessed from a single mobile application using mobile no. or UPI id as unique transaction address.
  • 4. THANK YOU FOR WATCHING DEVTECH FINANCE