INTRODUCTION OF NPCI

• The National Payments Corporation of India (NPCI) is an

initiative taken by Reserve Bank of India (RBI) and Indian
Bank’s Association (IBA) to operate the retail payments
and settlement system in India.
• This organisation was founded in the year 2008 under the
Payment and Settlement Systems Act, 2007
 WHY NPCI IS SETUP

•The volume of digital transactions has increased in India in resent year.

• due to demonetization and pandemic the amount and volume of transaction
that are done digitally through various modes of payments.

There needs to be a regulator in place to ensure the safety and security of the
digital payments.
This is where NPCI comes into the picture.
 Objectives
• To consolidate combine and integrate multiple systems for payment
with different service levels into one nation wide uniform and
business process for all retail payment transactions.
• Set under the guidance of the central bank, RBI and the Indian banks
association.
• To design and facilitate and affordable payment processes or
machanism.
• To design affordable nationwide machanism for retailers without
losing credibility and ensuring the same process in the whole
country.
 Vision
• Retail payments in significantly cost effective way across
the country
• To make the payments for the commoner in day to day
transaction and retail payments simple digitized and
traceable.
• By pushing toward digital money and payment portals, the
tracking and ease of uses have a significant impact.
 What is AEPS

• It is bank model that allows reconcilable

digital transaction using the technique of POS
or micro ATM via business wing of any book in
the country utilizing the Aadhar
authentication .
 Inputs required for a customer to do AEPS

• Bank Name
• Aadhar Number
• Fingerprint captured during enrollment
 Objectives of AEPS
• To engage a bank client to invole Aadhar as their character
to get to their particular Aadhar inpower book account and
perform fundamental booking exchanges like money store.
Cash withdraw balance inquiry get a small assertion
through a business correspondent .
• To subserve the gole of RBI electronification of retails
installments .
• Too subserve the gole of RBI in the government of india and
reserve bank of India in advancing financial inclusion .
• To impower banks of course the aadhar started inter bank
exchanges through a focal exchanging and cleaering office.
 Features of AEPS
• Simple to utilize
• Free from even a hint of horm installment
strategy
• Interoperable acess different banks
• Through AEPS ,all banks account holders can
want to get their bank account through
aadhar verification
 Conclusion
• AEPS stand for aadhar enabled payment
system using which one perform several basic
banking transection such as making payments
or interbank transfer
 Introduction to BHIM
• BHIM stands for Bharat Interface For Money.
• It is a mobile based application developed by
National Payments corporation of
India(NCPI)based on the Unified Payments
Interface.
• It was launched by Narendra Modi, on 30th
December 2016.
 Features of BHIM
• Immediate Money Transfer
• Allows to send/receive money to UPI, non UPI
based account.
• Currently supports 13 languages.
• Only money transfer between accounts is
done
 Advantages
• Supports almost every bank
• No required to have internet
• 3 level secuirty
• Instant transfer
• Easy to use
 Disadvantages
• Transactions limit
• No cashback
• Necessary to have mobile number linked.