FSS and NIPL Partner to Expand UPI Global Footprint
Tuesday, April 27, 2021 4:55PM IST (11:25AM GMT)
Mumbai, Maharashtra, India: FSS (Financial Software and Systems), a globally leading provider of integrated payment products and India’s largest payments processor, and NPCI International Payments Ltd (NIPL, International arm of National Payment Corporation of India), have signed a strategic partnership to expand UPI (Unified Payment Interface) rails in international markets.
India is among the first countries globally to launch real-time payments rails, processing close to three billion transactions a month on the UPI network. Several governments and regulators globally, and emerging markets, in particular, are keen on modelling NPCI’s success in building an interoperable, real-time payments infrastructure, supporting the long-term growth of the digital payments’ economy.
Date
25/02/2021
SETL, the London-based Settlement and Payments Infrastructure provider, today announced the appointment of Marjan Delatinne to SETL’s executive management team. As Head of Payments, Marjan has overall responsibility for growing SETL’s payments business, alongside its market infrastructure and asset management offerings.
Marjan joins SETL having most recently served as Global Head of Banking at Ripple. She brings with her a wealth of experience, having previously held senior business development roles at SWIFT, where she was responsible for the commercialisation of large scale projects both in securities and payments, namely Target 2 Securities and SWIFT gpi (Global Payments Innovation).
Maintaining financial stability remains one of the uppermost objectives of the Reserve Bank of India (RBI), drawing from its wide mandate as the regulator of the banks, NBFCs and payment systems; regulator of the money, forex, government securities and credit markets; and also as the lender-of-the-last resort, according to Shaktikanta Das, RBI Governor. He noted in a latest speech that since the global financial crisis (GFC) of 2008, financial stability has featured even more prominently in the discourse of central banks. It has been well documented that central banks in many countries were narrowly focused on price stability and perhaps overlooked the build-up of financial instability during the great moderation period.