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National Payments Corporation of India (NPCI) has launched NPCI Partner Program (NPP) to collaborate with various Technological Service Providers (TSP), Application Service Providers (ASP), and other similar entities in the industry.
,The NPCI, an umbrella organisation for operating retail payments and settlement systems in India, aims to connect with innovative and important payments-oriented service providers, per an NPCI statement.
The corporation said this initiative would help in build new offerings better aligned with the needs and demands of the contemporary market.
Further, the program aims to augment the retail payments ecosystem by reducing the time to market and being more transparent and accessible.
“The program will also act as a knowledge-sharing platform with exclusive workshops on NPCI products and services, participation in NPCI pilot projects, and building a marketplace through community engagement.
“It will further enable service providers to co-create along with NPCI and will accelerate strategic partnerships within the ecosystem which will play a vital role in solving new challenges in the ever-evolving market dynamics of cash-free payments,” NPCI said.
The program will seek participation from payment technology-oriented organisations across the ecosystem. These entities will first be evaluated for their fitment and compliance, post which they can apply for pre-certification of their tech stack on NPCI platforms.
“The participants will get early access to ready-to-test APIs and specifications for core development and deployment. Furthermore, by leveraging the relationships, the program will help NPCI and partner organisations expose their brands to new audiences, driving increased awareness,” according to the statement.
Nalin Bansal, Chief of Corporate, Fintech Relationships and Key Initiatives, NPCI said, “Through this program, we aim to design, co-create and go to market with such enterprises under the NPCI Partner Program. Going forward, we aim to drive newer and evolved solutions for the ever-expanding digital payments market through partnerships.”
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