National Payments Corporation of India (NPCI) on October 10th launched NPCI Partner Program (NPP) with an intent to collaborate with various Technological Service Providers (TSP), Application Service Providers (ASP), and other similar entities in the industry. With program, NPCI aims to connect with innovative and important payments-oriented service providers.
As per NPCI, this one-of-a-kind initiative will help in building new offerings that are better aligned with the needs and demands of the contemporary market. It added, it further aims to augment the retail payments ecosystem by bringing down the time to market.
NPCI said the program will act as a knowledge sharing platform with exclusive workshops on NPCI products and services, participation in NPCI pilot projects. It will further enable service providers to co-create along with NPCI and will accelerate strategic partnerships within the ecosystem which will play a vital role in solving new challenges in the ever-evolving market dynamics of cash-free payments, it added.
The program will seek participation from payment technology-oriented organisations across the ecosystem. These entities will first be evaluated for their fitment and compliance, post which they can apply for pre-certification of their tech stack on NPCI platforms. The participants will get early access to ready-to-test APIs and specifications for core development and deployment. Furthermore, by leveraging the relationships, the program will help NPCI and partner organisations expose their brands to new audiences, driving increased awareness.
Nalin Bansal, Chief of Corporate, Fintech Relationships and Key Initiatives, NPCI said, “We are delighted to launch our new Partner Program which will help connect us with innovative and reliable payments-oriented enterprises. Through this program, we aim to design, co-create and go to market with such enterprises under the NPCI Partner Program. Going forward, we aim to drive newer and evolved solutions for the ever-expanding digital payments market through partnerships.”