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NPCI launches subsidiary to take RuPay, UPI abroad

payments, digital payments

National Payments of Corporation of India (NPCI) has launched NPCI International Payments Limited (NIPL), a wholly owned subsidiary firm that will take NPCI’s products such as UPI and RuPay abroad. The aim of the project is to create global acceptance for RuPay and UPI, and to introduce digital payments in other nations. NIPL will be led by Ritesh Shukla as its CEO. He had earlier worked at Mastercard in the Middle East where he was in charge of account management and business development. He has also worked with Visa in the past along with Alxis Bank, SBI and HDFC wherein he primarily looked at their credit card offerings. The core team is rounded off by Anubhav Sharma, is the head of international business (partnership, business development and marketing) and Rina Penkar, the head of international business (product development). Penkar, as per her LinkedIn profile, has worked at NPCI for almost ten years and is currently their associate vice president and looks at “system design and testing to support overall Card Payments Operations”. Sharma had worked on UPI, BHIM and IMPS at NPCI for seven years before heading UPI and IMPS projects at NPCI for almost a year. He will move to NIPL from Paytm Payments Bank where he was the vice president of business finance for three months. It is not clear which country NIPL will expand to first and if BHIM is one of the NPCI products that will be exported. We have reached out to NPCI for more…

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