National Payments Corp of India will not collaborate with the payment technology firms but will partner with commercial banks which has covered majority of the households through debit or credit cards. This will be a blow to the digital payment companies as they have been trying to partner with the Government.

Your mobile wallet will surely not help you while paying the tolls at the national highways.

National Payments Corp of India (NPCI) owned by bank, will not collaborate with any of the payment technology firms but is interested to partner with commercial banks which still dominates and has covered majority of the households through debit or credit cards.

This will be a blow to the digital payment companies as they have been aggressively growing and trying to partner with the Government. And it may also be a sign that the banks are now eyeing these firms as a major threat and plans to curb the risks.

[source]

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