The National Payments Corporation of India (NPCI) has unveiled plans to establish its global headquarters in Mumbai’s Bandra Kurla Complex (BKC), accompanied by a cutting-edge research and development (R&D) centre with a capacity for 5,000 professionals. This move underscores NPCI’s commitment to advancing digital payment technologies and strengthening its global presence.
The Mumbai Metropolitan Region Development Authority (MMRDA) has allocated a dedicated plot for the headquarters, highlighting NPCI’s pivotal role in India’s fintech ecosystem. NPCI CEO Dilip Asbe stated that the initiative is part of the organization’s strategy to foster innovation and enhance international collaborations in digital payments.
NPCI, renowned for operating the Unified Payments Interface (UPI) and RuPay card network, has attracted significant global attention. Over the past few years, delegations from more than 70 countries have visited NPCI to study India’s digital payment infrastructure. The new R&D centre will focus on developing scalable and secure payment technologies, furthering NPCI’s mission to expand UPI’s global footprint through its subsidiary, NPCI International Payments Limited (NIPL).
Currently, UPI is operational in seven countries, including the UAE, Singapore, and France, with ongoing collaborations in Peru, Namibia, and Trinidad and Tobago. NPCI is also working with the UAE and Mauritius to develop card schemes akin to RuPay.
Domestically, UPI continues to thrive, with January 2025 recording over 16.99 billion transactions worth ₹23.48 lakh crore. The ecosystem now includes 80 UPI apps and 641 banks, reflecting its widespread adoption. NPCI’s Mumbai headquarters and R&D centre mark a significant step in its journey to revolutionize digital payments globally.
