The NPCI Product launches I could cover at GFF 2024, and what they mean for the future of Indian Fintech
The Global Fintech Fest 2024, a 3 day gala affair from Aug 28-30 saw several innovative product launches, masterclasses, networking dinners and lots more. Here is what I could cover.
I will be very honest. I am still recovering from GFF 2024. But, I made a commitment to The Fintech Chronicler, that I would share my insights, and what I found interesting during the 3 days expo.
And I really wish I could have created doppelgangers of myself, just so I could have covered grounds. But here are the top 6 product launches I could follow along and understand. Incidentally, they all happen to be NPCI’s product launches.
Here are the products and a one liner explainer:
1. ULI: Unified Lending Interface, a single source for all forms of standardised data that can help you underwrite your borrowers better, efficiently, and as quickly as possible
2. UPI Circle: a simple way to let your trusted folks use your UPI accounts. To see the deep dive of this product, you can read it here, or alternatively, watch the video explainer.
3. BBPS for Businesses: Simplifying bill and utility payments for businesses
4. UPI ICD: Interoperable cash deposit, a way to deposit cash into theirs or other accounts over the UPI rails
5. Bharat Connect rebrand: Where Bharat Bill Payment Systems, will be going beyond just bill pyaments
6. Pension on UPI: Ensuring you have a retirement corpus, and making payments for them are as seamless as possible
Some of the other launches I wished I could have attended, and will now have to watch the youtube videos of:
1. Pine labs and Visa collab on digital payments
2. Push Provision from Payu, a single solution for tokenising all our cards across merchants and websites
3. DigiPOS- a device that can convert any mobile into a payment accepting device
4. PhonePe PG- for businesses to accept payments online
5. UPI setu – the first UPI focussed platform for developers
6. BICRI – an AI based credit tool for retail traders by LoanTap
7. Identity solutions from Payu, Cashfree, UADAI
8. The RBIH product launches
9. And the 15+ other product launches from NPCI
10. Cobranded credit card stack from Hyperface
That is about it for this edition. I shall be hosting a deep dive in ULI, or Unified Lending Interface, on my community podcast of The Fintech Chronicler on Tuesday, 3rd September, at 8 PM IST. So, don’t forget to check that out.
Alright. Time for me to hit the bed and recover from the week that was. See you in the next edition.