NPCI has set up NPCI Tech Solutions Ltd as a wholly owned technology subsidiary, announced on 4 November.

The unit will work on artificial intelligence, blockchain, digital financial infrastructure and global capability centre services.

It is NPCI's fourth wholly owned subsidiary and will sit apart from the day-to-day running of live payment networks such as UPI.

Vishal Kanvaty, NPCI's chief technology officer for nearly a decade, has been named managing director and chief executive.

A separate arm can trial new tools and run pilots without touching settlement systems that handle very large daily volumes.

NPCI already runs UPI and India's retail payment and settlement systems. The new company can also support digital public infrastructure work.

Further detail on first projects, staffing and client work is expected as the company begins operations, Reuters reported.

Read the full NPCI Tech Solutions launch story on Trends News Stories.

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