Mumbai: Network People Services Technologies Limited (NPST), India’s leading digital banking and payments technology company, today announced that it has secured a strategic mandate from a large cooperative bank to deploy its flagship UPI Switch infrastructure.
This engagement marks NPST’s first order under its Bank-in-a-Box offering within the UPI solutions suite, delivered through a plug-and-play model that enables banks to rapidly deploy scalable, enterprise-grade payment infrastructure without large upfront investments, while allowing NPST to generate recurring multi-year SaaS-based revenue.
Through this deployment, the bank will be equipped to enter the UPI merchant acquiring ecosystem, enabling it to expand digital payment acceptance across its merchant network while unlocking new revenue streams and strengthening digital engagement with its member communities.
“Cooperative banks are a critical pillar of India’s community banking ecosystem, and their participation is essential
to deepening digital payment acceptance at the grassroots level,” said Deepak Chand Thakur, Co-Founder and CEO, NPST, adding, “NPST’s Bank-in-a-Box platform removes the technology barriers that have historically limited their participation. By delivering enterprise-grade UPI switching infrastructure through a scalable SaaS model, we aim to support the growth ambitions of cooperative banks as they move beyond traditional banking and actively participate in the UPI ecosystem, particularly in merchant acquiring.”
Launched last year, NPST Bank-in-a-Box is a ready-to-deploy digital banking platform designed to help small, mid-sized, and cooperative banks accelerate digital transformation. The platform combines digital payments processing with merchant acquiring across offline channels (QR, Soundbox) and online channels (Pay-in, Payout, and Interoperable Autopay) with Al-powered fraud monitoring capabilities for merchant risk management. It also includes omnichannel Banking SuperApp offering 400+ services, enabling banks to deliver a unified digital banking experience.
