Mumbai (Maharashtra) [India], January 27 (ANI/SRV): NPST (Network People Services Technologies Ltd) a leading fintech solution provider, has unveiled Timepay Evok as a UPI API engine to articulate its mission and relationship with digital merchants, payment aggregators & service providers in the digital payment landscape. With unique API services, UPI as a payment gateway can be integrated for both websites and App driven solutions for large-scale merchants. NPST thrives to skyrocket in emerging markets as innovation proliferates. Introducing Timepay Evok as the modern-day payment platform, having one-stop UPI payment solution, which will drive the progress for digital merchants and payment aggregators.
"The unique value proposition that NPST brings on table will allow PAPG to scale quickly and innovate on new use cases in the industry. We intend to bridge the gap between Banks and Fintech platforms by creating a fintech focused payment switch that rides on banking business rules. This aligns with our mission to strategically partner with industry players and banks to achieve larger market share." Deepak Chand Thakur - Co-founder, NPST.
UPI has been identified as a revolutionary product in the payment ecosystem. Launched in 2016, it has emerged as one of the most popular tools in the country for carrying out digital transactions. UPI has come a long way in making digital payments a habit and growing Indians towards a cashless economy. In the month of December 2022 alone, 382 banks were live on the UPI interface, with 7.82 billion financial transactions being carried out for a total value of nearly Rs. 12.82 trillion.
NPST being one of the approved TPAP (TimePay) it has built robust UPI API engine with inbuilt solutions such as merchant onboarding, auto reconciliation, merchant dispute resolution and strong data points for customer support. It intends to solve the inherent problem associated with standalone payment APIs. As a technology expert, NPST has built ready plugin that takes care of security layer as well as challenges associated with third-party integrations bringing down both cost and time for Payment aggregators.
Evok has multiple offering catering to different business needs ensuring secure, reliable, and fast-paced payment collections. The QR POS solution with ubiquitous UPI-based payments - to make secure transactions & UPI AutoPay - for making recurring payments through UPI are some of the valuable offerings in Evok.
The Unique value position that EVOK holds in industry is the ability to provide innovation platform to payment aggregators on its UPI switch for which it holds IP.
Network People Services Technologies Limited (formerly known as Network People Services Technologies Pvt . Ltd..) is in the business of providing Digital Payments solutions to banks, financial institutions, and Merchants. NPST is an authorized Merchant Payment Service Provider, approved by NPCI, acquiring merchants, and providing payment applications to users across various segments. They also serve as Fintech partners to banks and financial institutes operating as Technology Service Providers (TSP), providing a certified digital payment solution including Mobile Banking, IMPS, Bhim UPI, and Wallet platform.
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