NPCI Launches Tech Subsidiary NTSL To Focus On AI, Blockchain

Mumbai: The National Payments Corporation of India (NPCI) on Wednesday announced the formation of NPCI Tech Solutions Limited (NTSL) a wholly owned subsidiary aimed at strengthening its capabilities in emerging technologies, including artificial intelligence (AI), blockchain, digital financial infrastructure, and Global Capability Centre (GCC) services.

NTSL will also provide technology services for eKYC Setu, Unified Ticketing Platform (UTP) and other Digital Public Infrastructure (DPI) programmes, supporting the expansion of the Group's technology initiatives.

Vishal Kanvaty who has been associated with NPCI for a decade has been appointed as the managing director and chief executive officer of NTSL.

NPCI, established by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA), operates India's retail payment and settlement infrastructure.

Meanwhile a new study by Indian School of Business (ISB) has found that while 67 per cent of surveyed street vendors accept UPI payments, only 52 per cent had heard about the proposed MDR (Merchant Discount Rate) framework. Across city tiers, 45 per cent to 53 per cent said they would reduce UPI acceptance if the charges applied.

Titled ‘UPI Utilisation and MDR Awareness Among Street Vendors’, the study is based on a survey of 722 street vendors across 14 states and union territories and 64 urban local bodies.

The research examines UPI adoption, awareness of the proposed MDR framework and vendor responses to potential transaction charges. Announced in September 2026, the framework proposes a 0.4 per cent charge on transactions above ₹2,000, while exempting small merchants receiving up to ₹1 lakh per month through QR-based payments. Originally scheduled for implementation on October 15, the rollout was postponed by the National Payments Corporation of India (NPCI) on October 13 until after Diwali, with a new implementation date yet to be notified.