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NPCI was established under the aegis of RBI as a non-profit to run a few payment systems such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), and Bharat Bill Payment System (BBPS). In FY22, NPCI posted a Rs 773 crore profit.
‘Flipping’ refers to process of transferring entire ownership of Indian entity to entity incorporated abroad along with transfer of key assets such as intellectual property. Resultant structure is Indian company becoming wholly owned subsidiary of foreign company.
Network People Services Technologies Limited is in the business of providing Digital Payments solutions to banks, financial institutions, and Merchants. NPST is an authorized Merchant Payment Service Provider, approved by NPCI, acquiring merchants, and providing payment applications to users across various segments.
AuroPay will be able to commence its payment aggregator business upon receiving the final Certificate of Authorization from RBI
Founded in October 2020 by former Citrus Pay and PayU executives Anurag Pandey and Amit Bansal, Nimbbl offers multiple payment checkout solutions to merchants