NPCI, Finserv to open RuPay API Platform

The National Payments Corporation of India (NPCI) has partnered with Nasdaq listed firm Finserv to launch an API platform for start-ups and banking looking to build credit-card-based products on top Rupay rails, said a senior executive.

They said the partnership will help faster and cheaper onboarding of clients and merchants by banks as well as enable fintech companies to build new models of digital interfaces for clients launching RuPay credit card products.

Rishi Chhabra, head of Finserv told ET, “We are trying to expand the credit ecosystem in the country, where a lot of great work has happened on the debit side”.

The Winconsin based firm, which has been operating in India for more than ten years, works with seven of the top ten credit card banks in the country.“While collaborating with NPCI one of the shared visions is to expand credit issuance in the country. Our tech stack on RuPay will support scalability from an onboarding perspective for banks & fintechs.

We have hundreds and thousands of micro-APIs for the fintech firm to code, consumer and onboard and launch their services at large scale”.