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The National Payments Corporation of India (NPCI), which operates the country’s Unified Payments Interface (UPI), has established a new technology subsidiary to expand its operations into artificial intelligence, blockchain and digital financial infrastructure.
Announced on November 4, 2026, the wholly owned subsidiary, NPCI Tech Solutions Limited (NTSL), will serve as the organisation’s technology and innovation arm, developing capabilities beyond its existing payment systems.
NPCI has appointed its Chief Technology Officer, Vishal Kanvaty, as the Managing Director and Chief Executive Officer of the new company.
The subsidiary has been established following approvals from NPCI’s board and the Reserve Bank of India (RBI), marking a structural expansion of the organisation responsible for several of India’s most widely used digital payment platforms.
NPCI Moves Beyond UPI Into AI And Blockchain
NPCI operates critical retail payment infrastructure, including UPI, RuPay, the Immediate Payment Service (IMPS), and the Aadhaar Enabled Payment System (AePS).
These platforms allow banks, payment applications and consumers to transfer money and process transactions through interconnected digital systems.
With NTSL, the organisation intends to develop technology capabilities extending beyond the direct management of those payment networks.
The new subsidiary will focus on artificial intelligence, blockchain, digital financial infrastructure and Global Capability Centre (GCC) services.
Artificial intelligence could support financial technology development through data processing, automated operations and more sophisticated digital services.
Blockchain, meanwhile, is a technology used to maintain shared digital records, potentially allowing multiple organisations to verify information without relying entirely on a single recordkeeping system.
However, NPCI has not announced a specific blockchain-based payment platform or confirmed that NTSL will introduce new AI-powered UPI services.
The announcement establishes the subsidiary’s areas of responsibility rather than detailing the release of new financial products.
NPCI Managing Director and CEO Dilip Asbe said advances in AI and emerging technologies were creating new opportunities across digital infrastructure and financial services.
The company was established to pursue those opportunities while strengthening NPCI’s broader technology capabilities.
New Subsidiary To Support Digital Public Infrastructure
NTSL will also provide technology services for existing and developing digital public infrastructure initiatives.
These include eKYC Setu and the Unified Ticketing Platform (UTP), alongside other programmes connected to India’s expanding digital services ecosystem.
Electronic Know Your Customer, commonly known as eKYC, allows organisations to verify customer identities through electronic processes.
Such services are important for financial institutions and other regulated businesses that need to confirm customer identities while maintaining reliable records.
The Unified Ticketing Platform is intended to support digital ticketing infrastructure, expanding the range of services that may benefit from NPCI’s technology capabilities.
The subsidiary’s involvement indicates that NPCI is seeking a larger role in building and supporting technology systems used beyond conventional payments.
Digital public infrastructure generally refers to shared technology platforms that enable services such as payments, identity verification and information exchange.
India’s experience with UPI has demonstrated how common digital systems can connect banks, businesses and consumers without requiring each participant to build a separate network.
However, the announcement does not provide an implementation schedule for NTSL’s individual projects or specify the financial investment allocated to the subsidiary.
It also does not describe any immediate changes to the way customers make UPI payments.
Vishal Kanvaty To Lead Technology Expansion
The appointment of Vishal Kanvaty places an experienced NPCI technology executive in charge of the new organisation.
Kanvaty joined NPCI in 2017 and has worked across product development, market innovation and technology leadership.
Before becoming Chief Technology Officer in April 2023, he was responsible for the organisation’s market innovation portfolio.
NPCI said he had played a significant role in developing and commercialising technology platforms that now fall within NTSL’s areas of operation.
His new responsibilities will include developing the subsidiary’s capabilities in emerging technologies and supporting the expansion of its technology services.
The appointment also suggests that NPCI intends to build on existing internal expertise rather than establish a completely separate technology organisation without links to its current operations.
With the creation of NTSL, NPCI now has four wholly owned subsidiaries.
NPCI International Payments Limited handles the international expansion of payment technologies such as UPI and RuPay.
NPCI Bharat BillPay Limited manages the Bharat BillPay ecosystem, while NPCI BHIM Services Limited oversees the BHIM payment application.
NTSL adds a dedicated technology-development function to this structure.
What The Expansion Could Mean For India’s Digital Economy
The decision comes as banks, fintech companies and government institutions increasingly explore AI-powered software and new forms of digital infrastructure.
A dedicated technology subsidiary could give NPCI greater organisational capacity to develop platforms, collaborate with institutions and commercialise technology services.
It could also create opportunities to apply emerging technologies to areas beyond payment processing.
However, the practical impact will depend on which products NTSL develops, how they are tested and whether financial institutions or public agencies adopt them.
Given NPCI’s role in India’s payment ecosystem, security, reliability and regulatory oversight will remain important considerations for any technology deployed in sensitive financial environments.
The formation of NTSL does not itself establish new cybersecurity safeguards, introduce blockchain transactions for UPI users or change existing payment rules.
For now, the confirmed development is the creation of a separate technology subsidiary, its defined areas of focus and the appointment of its leadership.
What This Means For You:
UPI users do not need to change how they make payments because of this announcement. NTSL’s longer-term significance will depend on the digital services and technologies it eventually develops and makes available.
