Mumbai, November 9, 2026: The National Payments Corporation of India (NPCI) has established a wholly owned subsidiary, NPCI Tech Solutions Limited (NTSL), to expand its capabilities in artificial intelligence, blockchain and digital financial infrastructure.
The new company, announced on November 4, will serve as NPCI’s dedicated technology and innovation arm, developing solutions beyond the organisation’s traditional retail payments operations.
NPCI has appointed Vishal Kanvaty as Managing Director and Chief Executive Officer of NTSL.
NPCI Expands Beyond Traditional Digital Payments
NPCI operates some of India’s most important payment systems, including the Unified Payments Interface (UPI), RuPay and Immediate Payment Service (IMPS).
With the formation of NTSL, the organisation aims to strengthen its role in emerging financial technologies and digital public infrastructure.
The subsidiary will develop specialised technology capabilities that can support financial institutions, public digital platforms and other technology-driven services.
The initiative reflects NPCI’s efforts to expand its technical expertise beyond payment processing.
AI and Blockchain Among Key Focus Areas
The newly established subsidiary will concentrate on four major technology areas:
- Artificial Intelligence: Building capabilities for emerging AI applications and digital financial services.
- Blockchain: Exploring distributed-ledger technologies and their potential uses in digital infrastructure.
- Digital Financial Infrastructure: Supporting the development of technology platforms for financial and public services.
- Global Capability Centre Services: Providing specialised technology capabilities and related services.
NPCI has not yet announced specific commercial AI or blockchain products that will be launched through the subsidiary.
Vishal Kanvaty Appointed Managing Director and CEO
NPCI has selected Vishal Kanvaty to lead the new technology company.
Kanvaty previously served as NPCI’s Chief Technology Officer and has been associated with the organisation for nearly a decade.
He joined NPCI in 2017 and has worked on technology development, innovation and commercialisation of digital platforms.
His appointment places an experienced NPCI technology executive in charge of the company’s expansion into emerging technologies.
New Subsidiary to Support eKYC and Ticketing Platforms
NTSL will also provide technology services to existing digital public infrastructure initiatives.
These include eKYC Setu, the Unified Ticketing Platform (UTP) and other digital infrastructure programmes.
Such projects are intended to support technology-enabled services across different sectors.
By developing dedicated technical capabilities, NTSL could help NPCI extend its experience in digital payments to a broader range of digital services.
NPCI Receives Regulatory Approval for Subsidiary
According to reports, the subsidiary was established with approval from NPCI’s board and the Reserve Bank of India.
It becomes the organisation’s fourth wholly owned subsidiary.
NPCI’s existing subsidiaries include NPCI International Payments Limited, NPCI Bharat BillPay Limited and NPCI BHIM Services Limited.
These companies handle different aspects of the NPCI ecosystem, including international payment expansion, bill payments and the BHIM application.
NTSL will have a distinct focus on technology development and innovation.
NPCI CEO Highlights Emerging Technology Opportunities
NPCI Managing Director and CEO Dilip Asbe said developments in artificial intelligence and other emerging technologies are creating opportunities across financial services and digital infrastructure.
He explained that NTSL had been established to explore these opportunities while strengthening the NPCI Group’s technology capabilities.
The organisation also expressed confidence in Kanvaty’s leadership and experience in developing technology platforms.
What Does the Move Mean for India’s Fintech Sector?
The formation of NTSL comes as artificial intelligence, automation and digital public infrastructure receive increasing attention across India’s financial technology industry.
NPCI already plays a central role in the country’s digital payments ecosystem through UPI and other payment platforms.
A dedicated technology subsidiary could enable the group to develop new technical capabilities while maintaining its existing responsibilities for payment infrastructure.
However, NPCI has not disclosed the subsidiary’s initial investment budget, revenue targets or a detailed timeline for future product launches.
NPCI Strengthens India’s Digital Technology Ecosystem
The establishment of NPCI Tech Solutions Limited marks a strategic expansion for one of India’s most important financial infrastructure organisations.
With a focus on AI, blockchain, digital financial infrastructure and specialised technology services, the company will operate beyond NPCI’s traditional payment-processing mandate.
Under Vishal Kanvaty’s leadership, NTSL will work on developing capabilities intended to support the next phase of the group’s technology initiatives.
Sources: NPCI announcement, November 4, 2026; Reuters; Business Standard; The Economic Times
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