The National Payments Corporation of India (NPCI) has established a wholly owned technology subsidiary, NPCI Tech Solutions Limited (NTSL), to strengthen its focus on technology, innovation and the development of next-generation digital payment infrastructure.

Announcing the development on Wednesday, NPCI said the new subsidiary would function as its dedicated technology and innovation arm. NTSL will focus on emerging technologies and digital solutions, including artificial intelligence (AI), blockchain, digital financial infrastructure and global capability centre (GCC) services.

The move is aimed at expanding NPCI’s technological capabilities and supporting innovation in the rapidly evolving digital payments ecosystem. Through the new entity, the payments authority intends to create a dedicated platform to explore emerging technologies, develop advanced solutions and strengthen digital financial services.

NPCI has appointed its Chief Technology Officer, Vishal Kanvaty, as the Managing Director and Chief Executive Officer of NTSL. Kanvaty, who has been associated with NPCI for nearly a decade, brings significant experience in technology and digital payments to the new role.

His appointment is expected to provide strategic leadership to the subsidiary as it works towards developing technology-driven solutions and exploring opportunities in the financial technology sector.

The establishment of NTSL comes at a time when India's digital payments ecosystem is expanding rapidly, supported by the growing adoption of real-time payment platforms, digital banking services and technology-led financial solutions.

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NPCI operates several key retail payment systems in India, including the Unified Payments Interface (UPI), which has played a major role in transforming the country's digital transactions landscape.

With the launch of NTSL, NPCI aims to strengthen its technology and innovation capabilities, explore new business opportunities and support the development of scalable digital financial infrastructure for India and global markets.