Recent Current Affairs related to NPCI

novio, operated by Credilio Financial Technologies Pvt Ltd, has partnered with the Indian Overseas Bank to launch a co-branded RuPay credit card.

The UPI and Services Committee, led by the National Payments Corporation of India (NPCI), has introduced a revised Merchant Discount Rate (MDR) framework, effective from October 15, 2026. Under the new rules, a 0.4% charge will be applied to UPI transactions above ₹2,000.

A flat MDR of ₹5 per transaction will apply to payments exceeding ₹2,000 in specific sectors like railways, telecommunications, insurance, and fuel. For capital market transactions, including mutual funds and stockbroking, the MDR is set at 0.02% of the transaction value, capped at ₹300.

The Ministry of Finance has notified that banks and payment system providers are prohibited from imposing any direct or indirect charges on UPI transactions up to ₹2,000. The MoF has also extended this prohibition to payments made through RuPay-powered debit cards.

NPCI International Payments Ltd (NIPL), the international subsidiary of the National Payments Corporation of India (NPCI), has partnered with Singapore-headquartered FOMO Pay to enable the acceptance of UPI Quick Response (QR) codes for merchants across Singapore.

WhatsApp has integrated a native bill payments feature in India to enable users to discover, manage, and pay household and utility bills directly within the application.

The service is powered by the Bharat Connect network, formerly known as the Bharat Bill Payment System (BBPS), which is operated by NPCI Bharat BillPay Ltd (NBBL).

PhonePe has launched ‘UPI 123Pay’, a service enabling feature phone users to conduct UPI transactions without internet connectivity. The service uses a Short Message Service (SMS)-based system to ensure secure transactions even in low network coverage areas.

This initiative aims to promote financial inclusion by providing digital payment capabilities to the non-smartphone user demographic in India.

The Unified Payments Interface (UPI), launched by the National Payments Corporation of India (NPCI), has completed 10 years of operations.

In FY26, the share of UPI in the digital payments of India is recorded at 84%, the annual transaction volume of UPI reached 24,162 crore transactions, with the total transaction value estimated at ₹314 lakh crore.

The Qatar-India Postal Remittance Service, utilizing PosTransfer powered by the UPI, has been operationalized in Doha, Qatar to facilitate faster, secure, and cost-effective cross-border remittance services between both countries.

IndusInd Bank and dining platform EazyDiner have jointly launched a lifetime-free co-branded credit card named 'EazyDiner IndusInd Bank Platinum RuPay Credit Card'.

The card offers dining discounts, entertainment benefits, and UPI payment functionality.

Hyderabad-based VIYONA Fintech, a fintech infrastructure startup, has received approval from the Bharat Bill Payment System (BBPS), now rebranded as Bharat Connect, to operate as a Customer Operating Unit (COU).

This authorization enables the startup to provide interoperable digital bill payment services across India.

Enkash, a business payments and spend management platform, has become the first company in India to launch UPI-based payments on meal cards.

This feature allows employees to make direct payments from their meal card balance by scanning eligible UPI Quick Response (QR) codes at food and grocery merchants.

Dilip Asbe, the MD & CEO of the National Payments Corporation of India (NPCI), has been appointed to the Supervisory Board of the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

It is to be noted that the Supervisory Board comprises 12 members, with a provision to expand to 15 members in exceptional cases.

The National Payments Corporation of India (NPCI) has partnered with HSBC India and JPMorgan Payments to simplify the UPI transaction process for Indian travelers abroad.

These collaborations will introduce real-time foreign exchange (FX) conversion and settlement, allowing users to view the exact transaction amount in ₹ before finalizing their payments.

jUMPP, an AI-driven fintech platform, has received approval from the National Payments Corporation of India (NPCI) to operate as a Third Party Application Provider (TPAP). This authorization allows the platform to integrate UPI payment capabilities into its application.

Viyona Fintech India Pvt Ltd, a National Payments Corporation of India (NPCI)-certified Technology Service Provider, has received certification as a Biller Operating Unit (BOU) under the Bharat Bill Payment System (BBPS).

The BBPS is operated by NPCI Bharat BillPay Ltd (NBBL). This certification enables Viyona to facilitate billers across various sectors to collect payments through the Bharat BillPay network.

Viyona Fintech India Pvt Ltd has received certification from the National Payments Corporation of India (NPCI). The certification covers integrations for UPI Acquirer, UPI Issuer, Immediate Payment Service (IMPS), and Interoperable Mobile Banking (IBMB). This development aims to provide secure and seamless digital payment solutions for banks, fintech companies, and merchants.

NPCI Bharat BillPay Ltd (NBBL), a subsidiary of the National Payments Corporation of India (NPCI), has partnered with the fintech firm Juspay Technologies Pvt Ltd to launch a unified switch and software development kit (SDK) for the ‘Banking Connect’ platform.

The initiative is designed to improve the net banking experience in India by providing seamless technological integration for financial institutions.

Paytm has introduced biometric authentication for UPI and cardless Automated Teller Machine (ATM) withdrawals to enhance security. These features align with the RBI guidelines for two factor authentication (2FA).

Biometric payments are capped at ₹5,000 per transaction as per the National Payments Corporation of India (NPCI) guidelines. The cardless withdrawal feature allows users to withdraw cash from ATMs without a physical card, with a maximum limit of ₹10,000 per transaction.

According to the “India Digital Payments Report- Year 2025 in Review” released by Worldline SA, the UPI processed 228.5 billion transactions in 2025. This is a 33% Year-on-Year (Y-o-Y) increase from 172.2 billion transactions in 2024. The total value of transactions reached ₹299.74 trillion.

Person-to-Merchant (P2M) transactions grew by 34% to 143.82 billion. The merchant acceptance infrastructure expanded as the number of Quick Response (QR) codes increased by 15% Y-o-Y to reach 731.38 million. The report also states that the total number of payment cards in circulation exceeded 1.62 billion by the end of 2025.

NPCI Bharat BillPay Ltd (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has onboarded Axis Bank onto the “Banking Connect” platform.

With this, the platform is now available across 8 major banks, including State Bank of India, HDFC Bank, and ICICI Bank. The platform also integrates 11 Payment Aggregators (PAs) to facilitate streamlined digital payment services.