When Aadhaar Enabled Payment System (AEPS) was first introduced, it was heralded as a breakthrough for cash withdrawals and direct benefit transfers. It allowed people in the remotest corners of India to access their funds without needing a card or remembering a PIN. Yet as the years have passed, AEPS has quietly evolved into something …
India’s digital payments ecosystem has always evolved in waves. The first wave built access. The second built scale. The third — the one unfolding now — is building intelligence and interoperability at a depth that banks can no longer ignore. NPCI’s policy direction for the next decade is clear:A payment system that is secure, real-time, …
If 2016 was the year that UPI made its quiet debut, 2025 is shaping up to be the year it redefines the future of Indian banking. In less than a decade, the Unified Payments Interface has transformed from a promising payment channel into the backbone of India’s retail economy. Today, it accounts for more than …
Mandates, UPI Lite, and ICCW: Why 2025 Will Be the Defining Year for UPI-Driven Banks Read More »
In the past decade, Indian banking has undergone a transformation that few could have predicted. What began with the National Financial Switch (NFS) enabling interbank ATM transactions has evolved into a sophisticated ecosystem of real-time payments, QR-based commerce, interoperable mandates, and cross-border UPI. For many mid-sized banks, this evolution has created both opportunities and challenges. …
