Fiserv, NPCI partner to launch nFiNi

Wednesday 8 September 2021 14:48 CET | News

US-based Fiserv a global provider of payments and financial services technology solutions, has entered collaboration with National Payments Corporation of India (NPCI).

NPCI works in the retail payments and settlement infrastructure in India with products like Unified Payments Interface (UPI), Bharat Bill Payment System, and RuPay. The partnership will enable the launch of ‘nFiNi’, a ready stack of services that fintechs and banks can use to issue RuPay credit cards.

As just over 2% of the population in India has access to credit cards, this initiative has the potential to boost credit inclusion and drive economies of scale for fintechs and banks. Fintechs will be able to issue credit to their customers, many of whom are first-time users of banking and credit services, and banks will be able to grow their fintech portfolio while maintaining focus on their core offerings.

nFiNi will power RuPay cards by offering access to services through the NPCI network and FirstVisionTM from Fiserv, a microservices-based platform-as-a-service with a set of APIs that supports orchestration of the digital user experience, enables push alerts for in-app, mobile messaging app and SMS notifications, simplified integration options, and instant digital card provisioning, allowing customers to transact immediately after being approved for a card.

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Keywords: partnership, Fiserv, credit card, financial inclusion
Categories: Banking & Fintech
Countries: India
This article is part of category

Banking & Fintech

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