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NPCI partners with Fiserv to Launch 'nFiNi'

Published on September 10, 2021
Current Context: The National Payments Corporation of India (NPCI) partnered with Fiserv to launch ‘nFiNi’.
NPCI partners with Fiserv to Launch 'nFiNi'
  • The ‘nFiNi’ is a set of services to issue RuPay credit cards by fintech and banks.
  • It is a Rupay-based API that will enhance credit card-based products in the country.
  • It is basically a banking-as-a-service (BaaS) program as it will grant a wide range of services to fintech and banks to distribute Rupay-based credit cards.
  • The ‘nFiNi’ will power RuPay cards by granting necessary facilities through the NPCI network and FirstVisionTM from Fiserv. The FirstVisionTM is a cloud-based open API integration.
  • The ‘nFiNi’ will provide services like mobile apps, SMS notifications, digital card provisions, and other payment transactions features.
  • Static Part: 
    • HQ of NPCI: Mumbai
    • MD and CEO of NPCI: Dilip Asbe

Question: 

Q.1 In partnership with which entity has Fiserv launched ‘nFiNi’?
a. National Payments Corporation of India
b. Reserve Bank of India
c. Securities and Exchange Board of India
d. Central Depository Services Ltd
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