NPST secures multi-year contract from Central Bank of India to scale offline payment acceptance

NPST, a provider of banking and payment technology solutions, said Tuesday that he has secured a several -year contract of the Central Bank of India to implement its QYNX platform, a payment platform as a service (PPAA) that offers an offer designed to climb the acceptance of off -line payments throughout the country. The public sector bank based in Mumbai, with more than 4,600 branches gave NPST a 40 percent participation of the national initiative aimed at expanding the off -digital payment infrastructure offline, NPST said in a statement.

The deployment will significantly improve the NPST payment battery for banks, which increases the density of payment acceptance in semi -urban and rural regions, areas that are rapidly emerging as centers of high potential for the growth of digital transactions, he said.

In addition, he said that the initiative supports the broader objectives of the bank to mobilize healthy accounts and deepen house penetration (current account and savings account) through digitalized commercial participation.

As part of the commitment, NPST will implement Soundbox devices composed of QR promoted by its QYNX merchant switch with a white brand, a back-end engine that feeds the processing of real-time transactions, automated conciliation, payment reports and centralized management of merchants, devices and operations, he said.