India’s NPCI Forms Technology Subsidiary to Expand AI and Blockchain Work

India’s National Payments Corporation of India (NPCI) has formed a wholly owned technology subsidiary to expand beyond payments into artificial intelligence, blockchain and digital infrastructure work, including services for several public projects.

NPCI announced Nov. 4 that NPCI Tech Solutions Limited (NTSL) will focus on artificial intelligence, blockchain, digital financial infrastructure and global capability center services. The subsidiary will build capabilities beyond NPCI’s core payments business and provide technology services for several digital public infrastructure projects in India.

NPCI Chief Technology Officer Vishal Kanvaty was appointed NTSL’s managing director and CEO. NTSL is NPCI’s fourth wholly owned subsidiary.

NPCI operates India’s retail payment and settlement systems, including the Unified Payments Interface (UPI).