Social ,11 Apr 2025

NPST Partners with Central Bank of India to Boost Digital Payment Infrastructure

In a strategic move aimed at enhancing India’s digital payment capabilities, Network People Services Technologies (NPST) has announced a key partnership with the Central Bank of India, one of the country’s oldest and most trusted public sector banks. This collaboration is expected to drive the adoption of next-generation digital banking services while supporting India’s vision of a cashless, inclusive economy.

 

About the Partnership

This partnership is designed to bolster Central Bank of India’s digital banking and payment infrastructure, enabling more seamless and secure banking experiences for millions of customers.

Key highlights include:

1. Deployment of UPI and mobile banking solutions
2. Integration of NPST’s TimePay digital payment platform
3. Rollout of real-time transaction monitoring and fraud prevention tools
4. Enhanced customer experience through a modernized digital interface

 

About NPST: Driving Fintech Innovation

Network People Services Technologies (NPST) is a publicly listed, RBI-authorized Third-Party Application Provider (TPAP) for Unified Payments Interface (UPI). NPST builds robust digital banking and payment solutions for financial institutions, empowering them to serve customers with modern, mobile-first experiences.

NPST’s core platforms include:

1. TimePay – Merchant payments & payment gateway
2. UPI Switch & Middleware – Fast and secure UPI integrations
3. Mobile & Internet Banking Platforms
4. Customer onboarding, eKYC, and fraud control systems

 

Deepak Thakur: The Visionary Behind NPST

At the helm of NPST is Deepak Thakur, Co-Founder and CEO, a seasoned entrepreneur and technologist with deep roots in India’s fintech evolution. With over two decades of experience in banking technology, Deepak has played a crucial role in transforming NPST from a niche tech startup into a nationally recognized fintech infrastructure provider.

 

Highlights of Deepak Thakur’s Vision and Leadership:

1. Customer-Centric Product Strategy: Deepak has championed building scalable, modular, and bank-friendly fintech solutions.
2. RBI Compliance Focus: Under his guidance, NPST became one of the few RBI-licensed TPAPs, enabling it to directly serve major banks.
3. Bank-Fintech Collaboration Advocate: A strong believer in public-private synergy, he’s consistently promoted collaborations with PSU banks to foster digital financial inclusion.
4. Innovation at Scale: He has led NPST in integrating cutting-edge technologies such as AI-driven fraud detection, real-time analytics, and frictionless payment systems.

Deepak's leadership ensures that NPST not only keeps pace with the rapidly evolving digital payment space but also sets benchmarks in reliability, compliance, and innovation.

 

What This Means for Central Bank of India Customers

With this partnership, customers can now look forward to:

1. Simplified and secure UPI transactions
2. Intuitive mobile banking and internet platforms
3. Integrated merchant payments and bill payments
4. 24/7 digital access to core banking services

The partnership enables Central Bank of India to reach new digital-savvy users, especially in Tier-2 and Tier-3 cities, and boosts financial inclusion.

 

Why This Partnership Matters

Strategic Advantage	Benefit
PSU-Private Synergy	Enhances Central Bank’s tech edge
Deep Expertise	Leverages NPST’s modular fintech stack
Secure Infrastructure	Strong focus on data privacy and transaction security
Scalable Ecosystem	Ready for rising transaction volumes in rural and urban India

 

The Bigger Picture: India’s Digital Banking Revolution

India’s digital payments landscape is witnessing an unprecedented boom, with over 12 billion UPI transactions recorded in March 2024 alone. Fintechs like NPST are the backbone behind this scale, building reliable systems that empower traditional banks to compete in a digital-first era.

 

Final Thoughts

The partnership between NPST and Central Bank of India exemplifies a powerful blend of legacy trust and modern technology. Under the visionary leadership of Deepak Thakur, NPST continues to chart a bold course—empowering banks, businesses, and users with seamless and secure financial infrastructure.

As India embraces a digital future, collaborations like these will define the next chapter in inclusive banking and financial innovation.