India’s National Payments Corporation of India has formed a wholly owned technology subsidiary focused on artificial intelligence, blockchain and digital financial infrastructure.
NPCI announced the formation of NPCI Tech Solutions Limited, or NTSL, on November 4. The new company will serve as the group’s technology and innovation arm while building capabilities beyond NPCI’s core retail payments operations.
The subsidiary will work across AI, blockchain, digital financial infrastructure and global capability center services, according to NPCI’s official announcement. It will also provide technology services for digital public infrastructure programs, including eKYC Setu and the Unified Ticketing Platform.
Vishal Kanvaty has been appointed managing director and chief executive officer of NTSL. Kanvaty previously served as NPCI’s chief technology officer and has been associated with the organization for nearly a decade.
NPCI operates India’s major retail payment and settlement systems, including the Unified Payments Interface. UPI’s scale makes the organization a central provider of financial technology infrastructure in India, while its subsidiaries extend its work into international payments, bill payments and consumer services.
NTSL is NPCI’s fourth wholly owned subsidiary, following NPCI International Payments, NPCI Bharat BillPay and NPCI BHIM Services. The group said the new arm would develop technology capabilities for financial services and other public digital systems.
The launch comes as NPCI is expanding its work around AI-enabled payments. The organization has also been developing a registry intended to identify and monitor AI agents that initiate UPI transactions, according to earlier reporting.
NPCI chief executive Dilip Asbe said emerging technologies were creating new possibilities across digital infrastructure and financial services. The company did not disclose the subsidiary’s investment budget, staffing plan or revenue targets.
NPCI’s careers site had already listed NTSL roles in Hyderabad before the formal announcement, including positions connected to product development and emerging payment technology. The launch gives the unit a separate corporate structure for building and providing technology services beyond NPCI’s established payment-network mandate.