RS Software wins contract from NPCI to build digital payments enablement platform

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Digital Transformation

RS Software has been awarded a contract from the National Payments Corporation of India (NPCI) to build the Digital Payments Enablement Platform. This will facilitate & accelerate adoption of digital payments in India to support the growth of digital-commerce while facilitating financial inclusion in India.


The NPCI is the umbrella organization for retail payments in India. It has undertaken to implement the Unified Payment Interface (UPI) that will be used by banks to innovate and launch mobile payment products in India. This is in line with RBI’s Payment System Vision (2012-15) of a cashless society using latest technology.

Unified Payment Interface will offer a simple and secured platform for digital transaction through its Application Program Interface (APIs) and harness the power of the existing payment infrastructure like Aadhar. This will foster a new wave of disruptive innovation in digital payment space that will enable financial inclusion of common people in a digital India.

Once this infrastructure is in place, it would allow users to send and receive money electronically without requiring bank account information. All they would need is a single identifier, such as their Aadhaar number or Short Payment Address or mobile number. The platform will have security layers built into it to prevent misuse and ensure that money goes to the intended recipient. It will be based on a 2-factor authentication method that will allow banks and other institutions to tap into the ever-growing online customer base and ensure financial inclusion through secure micro-payments. The new interface would also be a blessing for small-scale banks that do not have the necessary infrastructure to set up their own digital banking products.


The solution will facilitate payments functions as secured APIs over the internet, enabling PSPs (payment service providers) such as banks to develop digital payment platforms via mobile applications for initiating payments. The UPI layer that will sit on top of the existing infrastructure of banks, will enable money to be transferred from one bank to another using mobile phones.

“We intent to utilize RS Software’s expertise for fulfilling advanced needs of the customers to perform instant payment transactions. Our strategic association with RS Software foresee a significant contribution to digital revolution we aim to achieve in payments arena,” said A P Hota, MD & CEO, NPCI.  “NPCI’s decision to award the contract to RS Software for this development is based on our assessment on RS Software’s capabilities which will help us to offer next generation peer-to-peer payment services in near future”, he added.

Commenting on the occasion, Raj Jain, Chairman & Managing Director, RS Software (India) Ltd said, “We are delighted to have been selected by NPCI for this very important national payments initiative.  We believe it will be the foundation for enabling a new ecosystem that fosters innovation and will help India achieve the transition to digital payments. Convenience, security and speed enabled by UPI will accelerate adoption and help to realize the vision of a digitally empowered economy. This is the vehicle that will bring together Prime Minister’s Jan Dhan Yojana (comprehensive financial inclusion), Aadhaar (National identity card), and Mobile (India’s 900+ million mobile phone infrastructure) and deliver perhaps the most transformative initiative India has ever taken. It is the enabler for a seamless payment experience in an economy that is being strengthened by new policies and initiatives, and is of critical importance to the future of electronic payments in India. RS Software looks forward to playing a strategic role in realizing this dream: a life changing impact for every citizen and each business entity, empowering the economy of the nation at all levels. RS Software takes immense pride, with all humility, having being selected  for  this prestigious assignment of building a Unified Payments Infrastructure to help take India to its deserving leadership position globally.”

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