Synopsis
The digital payment industry in India is expected to witness significant growth over the next five years, driven by innovations like real-time credit lines embedded in customer journeys. Deepak Chand Thakur, CEO & Co-founder of Network People Services Technologies (NPST), expects this growth to be fueled by the integration of cutting-edge technologies such as artificial intelligence, IoT, and embedded payments.
NPST’s Roadmap for Digital Payments
NPST has received an in-principle approval from the National Stock Exchange of India (NSE) for its migration to the main board. The company’s strategic roadmap is built on three key pillars:
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- Aggressive market expansion and internationalisation of solutions
- Deepening technological capabilities, particularly through AI integration and exploration of frontier technologies like IoT and embedded payments
- Maintaining a commitment to innovation through sustained R&D investments
Helping Smaller Banks and RRBs
NPST has developed a unique solution to bridge the digital divide between smaller banks and regional rural banks (RRBs) and larger banks. The company’s capex-free model enables these institutions to access cutting-edge banking technology without significant capital expenditure or technical expertise. For instance, NPST’s Payment Platform-as-a-Service (PPaaS) solution empowers a major PSU bank to expand merchant acquisition nationwide.
Financial Performance and Trends
NPST’s financial performance is driven by innovation, transformation, and ecosystem development. The company has pioneered industry-first solutions like an AI/ML-powered risk intelligence decisioning platform for compliance and fraud management. Its expansion into new areas includes BBPS bill aggregation and ODR solutions, alongside enhanced UPI services. The company’s platform now processes 15 billion transactions annually, with a 20% growth in transaction volumes. This comprehensive approach, combined with strong customer retention and new banking partnerships, continues to fuel its growth trajectory.
Early Challenges and Growth
NPST faced significant challenges in its early days, including operating from a modest space and managing limited resources. However, the company’s focus on delivering digital payment technology across the financial value chain, combined with strategic acquisitions and partnerships, helped it overcome these hurdles. The company’s commitment to innovation over valuations has consistently guided it through several challenges, including the Covid-19 crisis. This philosophy has driven groundbreaking milestones, such as the launch of Evok PPaaS in 2019.
Digital Payments in India: A Prophetic Vision
Deepak Chand Thakur envisions a future where digital payments are seamless, efficient, and personalized. With the introduction of pre-approved, real-time credit lines embedded in customer journeys, India’s digital payments landscape is poised for a transformative revolution. As traditional banking monoliths are disrupted by specialised, agile players, the need for advanced payments technologies and infrastructure is growing. NPST is strategically investing in technologies that will not only respond to but also proactively shape the future of digital finance.
| Key Milestones | Year |
|---|---|
| Market capitalisation of Rs 4,200 crore | 2025 |
| Reaching Rs 129.11 crore in revenue | H1 FY2025 |
| 142% year-on-year growth in revenue | Q2 FY2025 |
Conclusion
Deepak Chand Thakur’s vision for the digital payment industry in India is one of transformation, innovation, and growth. With NPST’s strategic roadmap and commitment to innovation, the company is poised to play a significant role in shaping the future of digital finance in India.
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