NPCI International Payments
NPCI International Payments (NIPL) is the wholly-owned international subsidiary of NPCI, enabling global acceptance of India's UPI and RuPay digital payment systems through central-bank partnerships and licensing of sovereign payment infrastructure to 13+ partner countries.
- Company typePrivate
- Founded2020
- HeadquartersBandra, India
- Headcount1,001–5,000
- GTM typeB2B
- OfferingSoftware
What NPCI International Payments does
NPCI International Payments Limited (NIPL) is the internationalization arm of the National Payments Corporation of India (NPCI), incorporated on April 3, 2020, as a wholly-owned subsidiary under RBI-governed parentage. The company enables global acceptance of India's indigenous UPI (Unified Payments Interface) and RuPay card scheme through bilateral agreements with foreign central banks, national payment operators, and commercial banks in 13+ countries including Singapore, UAE, France, Nepal, Cambodia, Sri Lanka, Qatar, Mauritius, Bhutan, Israel, Vietnam, Japan, and Cyprus.
NIPL operates two core product lines. The interoperability suite delivers UPI acceptance for Indian travelers abroad via QR-code linkage with partner-country payment systems (e.g., UPI-PayNow in Singapore, UPI-KHQR in Cambodia, UPI-LankaQR in Sri Lanka), RuPay card acceptance through Discover Financial Services and Japan Credit Bureau networks, and UPI-PayNow-linked remittances. The infrastructure-build suite licenses technology, technical assistance, and consulting to help partner countries establish UPI-like real-time payment systems and RuPay-like domestic card schemes — active engagements include Namibia, Peru, Mauritius, and Trinidad and Tobago. Supporting platform components include SwitchNxt (routing), SettleNxt (settlement), NTS (tokenization), SecureNxt (3DS), E-FRM (fraud management), and analytics modules. The company has also built FiMI, a domain-specific AI language model for payments support, and piloted Agentic Payments via Razorpay for conversational UPI transactions.
Revenue is derived from cross-border transaction fees and foreign-exchange margins on UPI P2M payments, RuPay international interchange/acceptance fees, and technology licensing/consulting for infrastructure-build engagements. Pricing is set through bilateral agreements rather than public schedules, reflecting B2B2C go-to-market where NIPL enables partner countries and financial institutions to onboard merchants. End users access NIPL-enabled services through existing UPI-powered apps (BHIM UPI, PhonePe, Google Pay) without separate applications. Total revenue, ARR, and headcount-related financial metrics are not publicly disclosed, though the company reports headcount of 1,001-5,000 employees across offices in Bandra-Kurla Complex and Goregaon East, Mumbai.
NPCI International Payments firmographics
Firmographics- Name
- NPCI International Payments
- Legal name
- NPCI International Payments Limited
- Website
- https://nipl.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- NPCI International Payments (NIPL) is the wholly-owned international subsidiary of NPCI, enabling global acceptance of India's UPI and RuPay digital payment systems through central-bank partnerships and licensing of sovereign payment infrastructure to 13+ partner countries.
- Ownership category
- akta.pro rank
NPCI International Payments industry classification
Industry- Product category
- Cross-Border Payment Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (52221), Activities Related to Credit Intermediation (5223)
- SIC
- Finance Services (6199), International Affairs (9721)
- akta.pro primary industry
- A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
- akta.pro secondary industries
- Cross-Border & FX Payments Platforms (BPAMAFAK), Domestic / National Card Schemes (FSAMAAAC), Cross-border Payments, FX & Multi-currency Checkout (CRAFAJAF)
Keywords
Where NPCI International Payments is headquartered
LocationHeadquarters
- HQ city
- Bandra
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
NPCI International Payments business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Cross-border Transaction Processing: NIPL generates revenue through transaction fees on cross-border UPI and RuPay payments processed internationally. Foreign exchange margins and fees apply to cross-border person-to-merchant UPI transactions.
- Technology Licensing and Consulting: NIPL provides technological assistance, licensing, and consulting services to help other countries build UPI-like or RuPay-like payment systems, charging for infrastructure setup and ongoing support.
- RuPay International Acceptance: Revenue generated from international acceptance and issuance of RuPay cards through partnerships with Discover Financial Services and Japan Credit Bureau, facilitating retail payments abroad for Indian travelers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | B2B agreement-based pricing |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
NPCI International Payments product offering
Product offeringCore offering
NIPL enables international acceptance of India's UPI (Unified Payments Interface) and RuPay card payment systems through partnerships with foreign central banks, national payment operators, and financial institutions. The company provides cross-border real-time payments, person-to-person remittance linkages (e.g., UPI-PayNow), international RuPay card acceptance via Discover and JCB networks, and advisory/technology services to help other countries build UPI-like or RuPay-like domestic payment infrastructure.
Product overview
NPCI International Payments Limited (NIPL) operates as a global digital payment infrastructure company, offering two core product lines: UPI (Unified Payments Interface) for mobile-based real-time payments and RuPay for domestic card scheme services. UPI Global Acceptance enables Indian travelers to make QR code payments internationally across multiple countries, while RuPay Card facilitates international retail payments through partnerships with Discover Financial Services and JCB. The cross-border remittance portfolio includes UPI-PayNow linkage for India-Singapore transfers, Foreign Inward Remittance for receiving international transfers to Indian bank accounts, and Foreign Outward Remittance for sending money abroad. Supporting infrastructure services include UPI-Like and RuPay-Like solutions for countries seeking to build sovereign payment systems. AI-powered offerings include FiMI (a domain-specific language model for payment disputes and queries) and Hello UPI voice payments. The company also offers UPI One World wallet for international visitors to India.
Differentiator
Problem solved
Functional benefit
Brands
- UPI: Unified Payments Interface - India's real-time mobile payment system enabling inter-bank transactions through a single two-click factor authentication process
- RuPay
- FiMI
Products and services
- UPI Global Acceptance International acceptance network enabling Indian travelers and NRIs to make real-time QR code payments abroad at partner merchants using UPI-powered apps like BHIM UPI, PhonePe, and Google Pay, with transparent foreign exchange rates and secure two-factor authentication.
- RuPay Card International Acceptance India's domestic card payment network enabling RuPay cardholders to make retail payments abroad through partnerships with Discover Financial Services and Japan Credit Bureau (JCB).
- UPI-PayNow Cross-Border Remittance Real-time cross-border person-to-person remittance service linking India's UPI with Singapore's PayNow system, enabling instant fund transfers via mobile numbers or virtual payment addresses.
- UPI-Like Instant Payments Infrastructure Build Technology consulting and licensing service enabling developing nations to build UPI-like real-time payments infrastructure customized to their country's requirements, including API-driven messaging protocols, QR code standards, and interoperability framework.
- RuPay-Like Domestic Card Scheme Build Advisory and technology services for countries seeking to establish sovereign domestic card schemes, including processing platforms (SwitchNxt, SettleNxt), tokenization (NTS), 3DS (SecureNxt), fraud management (E-FRM), and analytics modules.
- UPI One World Wallet Digital wallet service enabling foreign visitors to make real-time UPI payments in India without requiring an Indian mobile number or local bank account, with transaction limits and balance refund capabilities.
- Foreign Inward & Outward Remittance Service enabling Indian residents to receive international transfers directly into their bank accounts through UPI IDs and send money abroad under the Liberalized Remittance Scheme (LRS) using recipient's virtual payment address through participating banks.
Quantifiable outcome
- 50% of global real-time digital payments powered by UPI
- +3 more outcomes
Companies that use NPCI International Payments
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles3 records
NPCI International Payments technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability5 records
Feature6 records
NPCI International Payments partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered strategic, core and minor.
- Central Bank of SeychellesstrategicMoU between NIPL and Central Bank of Seychelles for deploying UPI digital payment infrastructure across the island nation, part of India's broader strategy to position UPI as globally recognized payments network.
- Lyra Collect (France)corePartnership enabling UPI payments at Galeries Lafayette and other French merchant locations, making France the first European country to adopt UPI. Enables Indian consumers to make UPI payments at participating merchant outlets.
- Nepal Clearing House Limited (NCHL)coreLaunched cross-border payment linkage connecting India's UPI with Nepal's NPI, enabling real-time, low-cost person-to-person remittances using mobile numbers or virtual payment addresses. Aligns with G20 objectives for affordable cross-border payments.
- ACLEDA Bank Plc. (Cambodia)corePartnership enabling UPI acceptance in Cambodia through the KHQR national QR code system, allowing Indian travelers to make payments at over 4.5 million merchant outlets across the country. First phase enables Indian users to pay in Cambodia with reciprocal phase planned.
- NAPAS (Vietnam)strategicMoU for cross-border QR code payment interoperability between India's UPI and Vietnam's fast payment system, facilitating seamless transactions for tourists, businesses, and investors.
- LankaPay (Sri Lanka)corePartnership for UPI acceptance across Sri Lanka, enabling Indian tourists to make digital payments by scanning LankaQR with UPI-enabled mobile applications. Addresses growing number of Indian visitors (416,000 in 2024 to 531,000 in 2025).
- MASAV (Israel)strategicMoU linking India's UPI systems with Israel's MASAV payment service for cross-border transactions during PM Modi's state visit to Israel.
- Fonepay Payment Service Ltd. (Nepal)coreEmpowers Indian consumers to make instant, secure, and convenient UPI payments at various business stores in Nepal using UPI-powered apps.
- Mashreq Bank (UAE)coreEnabling UPI acceptance across thousands of merchants in the UAE, facilitating digital payments for Indian travelers in the region.
- Eurobank CyprusstrategicMoU signed to enable UPI cross-border payments in Cyprus, marking expansion into Europe. Eurobank became first Greek and Cypriot bank to enable cross-border remittances to India via UPI.
- NTT DATA (Japan)strategicMoU signed for UPI acceptance in Japan, expanding UPI's global footprint to East Asia through partnership with Japanese technology services company.
- Payments Network Malaysia (PayNet)strategicAgreement to enable UPI and DuitNow QR acceptance in India and Malaysia, facilitating cross-border merchant payments. Phased rollout will first allow Indian travelers in Malaysia and later Malaysian visitors in India.
- Lyra (France)corePartnership enabling UPI payments at the Eiffel Tower and expansion across France, making it the first European country to adopt UPI acceptance.
- PayNow (Singapore)coreReal-time payment linkage between UPI and Singapore's PayNow for cross-border person-to-person remittances via mobile numbers or virtual payment addresses.
- Al Etihad Payments (UAE)strategicAlliance to advance the development of UAE's first national Domestic Card Scheme (DCS), helping build sovereign payment infrastructure.
- Discover Financial ServicescorePartnership backing RuPay card's international reach, providing global acceptance through Discover's network alongside Japan Credit Bureau.
- Japan Credit Bureau (JCB)corePartnership supporting RuPay's international expansion through JCB's global acceptance network, extending India's domestic card scheme internationally.
- Namibia (Infrastructure Build)minorInfrastructure build partnership for helping develop national payment infrastructure.
- Peru (Infrastructure Build)minorInfrastructure build partnership for developing domestic payment infrastructure in Peru.
- Mauritius (Infrastructure Build)strategicPartnership for RuPay-like domestic card scheme development and digital payment infrastructure in Mauritius.
- Trinidad and Tobago (Infrastructure Build)strategicDiscussions for Caribbean country's adoption of India's UPI digital payment system, with NIPL holding multiple rounds of talks with local authorities.
Scale indicators12 records
Recent moves7 records
Expansion highlights6 records
NPCI International Payments competitors and assessment
Company assessmentBroad incumbents
- SWIFT: Global financial messaging network underpinning interbank cross-border payments. Not a direct consumer-facing competitor, but represents the legacy infrastructure that NIPL's bilateral real-time linkages (UPI-PayNow, UPI-NPI) are designed to bypass for retail corridors.
- Western Union: Largest global cross-border money transfer operator with deep agent network. Competes directly with NIPL's UPI-PayNow and India-Singapore/Nepal remittance offerings, though NIPL's real-time, mobile-native model is structurally different from WU's cash-pickup model.
- UnionPay International: International arm of China's state-backed card network, focused on acceptance of UnionPay cards globally. Directly comparable to RuPay International in being a domestic card scheme extending internationally through network partnerships, with substantially larger global footprint.
- Mastercard: Global card network with Mastercard Send for cross-border disbursements and remittances. Comparable as a backbone for international retail payments, directly competing with RuPay's international acceptance strategy and NIPL's remittance linkage products.
- PayPal (Xoom): Global digital payments platform with Xoom for international money transfers. Competes with NIPL in cross-border remittances and merchant payments, with significantly broader global acceptance and consumer brand recognition.
- Visa: Global card network operating Visa Direct for cross-border P2P and P2M payments. Directly competes with NIPL in the international remittance and merchant acceptance corridors where UPI is being extended, but at vastly greater scale and acceptance breadth.
Emerging players
- Ripple: Enterprise blockchain-based cross-border payments network. Adjacent competitor in the cross-border payments infrastructure layer, particularly for bank-to-bank corridors, though with a different technological approach than NIPL's A2A/QR model.
- PIX (Banco Central do Brasil): Brazil's state-backed instant payments system. Conceptually the closest peer to UPI/NIPL as a sovereign real-time payments network with growing international ambitions; competes indirectly in the broader narrative of national real-time payment networks expanding globally.
Direct peers
- Wise (TransferWise): Digital-first cross-border payments company offering low-FX, real-time remittances between dozens of countries. Directly comparable to NIPL's UPI-PayNow linkage and outward remittance products, with a similar value proposition of transparent FX and low fees.
- Remitly: Digital remittance platform focused on corridors from high-income countries to emerging markets, including a strong India corridor. Competes with NIPL's UPI-based outward remittance services targeting the Indian diaspora.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
NPCI International Payments social profiles
Digital presenceNPCI International Payments compliance and trust
Trust signalCompliance4 records
NPCI International Payments financial estimates
Financial estimateRevenue estimate
Valuation estimate
NPCI International Payments leadership team
Management profileNumber of profiles
Profiles10 records
NPCI International Payments funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NPCI International Payments M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NPCI International Payments
What does NPCI International Payments do?
NIPL enables international acceptance of India's UPI (Unified Payments Interface) and RuPay card payment systems through partnerships with foreign central banks, national payment operators, and financial institutions. The company provides cross-border real-time payments, person-to-person remittance linkages (e.g., UPI-PayNow), international RuPay card acceptance via Discover and JCB networks, and advisory/technology services to help other countries build UPI-like or RuPay-like domestic payment infrastructure.
Is NPCI International Payments a public or private company?
NPCI International Payments is a private company. It is classified as corporate owned and is currently operating.
When was NPCI International Payments founded?
NPCI International Payments was founded in 2020. It employs 1,001 to 5,000 people.
Where is NPCI International Payments based?
NPCI International Payments is headquartered in Bandra, India, in the Asia region.
How does NPCI International Payments make money?
Three revenue lines are on record. Cross-border Transaction Processing is the primary driver. The others are technology Licensing and Consulting and ruPay International Acceptance.
Who are NPCI International Payments's main competitors?
Broad incumbents on record are SWIFT, Western Union, UnionPay International, Mastercard, PayPal (Xoom) and Visa. Emerging players are Ripple and PIX (Banco Central do Brasil). Direct peers are Wise (TransferWise) and Remitly.
Does NPCI International Payments have an API?
No public API is recorded for NPCI International Payments.
What industry is NPCI International Payments in?
NPCI International Payments's product category is Cross-Border Payment Infrastructure. Its primary akta.pro industry code is FSAMAFAF, A2A Checkout & Merchant Acceptance Solutions, with a secondary code of BPAMAFAK, Cross-Border & FX Payments Platforms. Its NAICS code is 52232 and its SIC code is 6199.