NPCI Archives - India Podcast

FM Warns Against Deepfake Risks in FinTech

Anil Vanna — Tue, 07 Oct 2025 11:39:49 +0000

Finance Minister Nirmala Sitharaman highlighted the rising threat of deepfake videos and AI-based fraud during the Global FinTech Fest 2025 in Mumbai. She said criminals are now hacking trust, not firewalls, by creating fake videos and mimicking voices.

To tackle fraud in the financial sector, SEBI and NPCI have launched dedicated UPI handles for registered intermediaries. Major brokers covering over 90% of investors and all mutual funds have enabled these secure handles.

The SEBI Check platform allows investors to verify UPI IDs and bank accounts of registered intermediaries before making payments. This ensures privacy, security, audit trails, and quick detection of mismatches.

FM Sitharaman emphasized responsible regulation, innovation, and growth in the FinTech and AI sectors. India now contributes 16% of global AI talent and aims to become a hub for AI-enabled products and services.

The post FM Warns Against Deepfake Risks in FinTech appeared first on India Podcast.

PayPal Integrates UPI for Global Payments

Anil Vanna — Tue, 07 Oct 2025 11:36:45 +0000

PayPal and NPCI International Payments Limited (NIPL) have partnered to integrate the Unified Payments Interface (UPI) on PayPal World. The announcement was made at the Global Fintech Fest in Mumbai.

This collaboration makes UPI one of the first launch partners on PayPal World, a platform connecting major payment systems and digital wallets globally. Indian users can now pay using UPI on millions of businesses accepting PayPal.

International travellers in India can also make seamless payments through their PayPal wallets via the UPI system. PayPal World uses cloud-native architecture and open APIs to ensure fast, secure, and reliable transactions.

Alex Chriss, CEO of PayPal, called the partnership a “landmark moment,” while NPCI International CEO Ritesh Shukla said it will expand UPI’s global reach, benefiting Indian users and international businesses.

The post PayPal Integrates UPI for Global Payments appeared first on India Podcast.

AI Reshaping Financial Services, Says NPCI Chairman

Anil Vanna — Tue, 07 Oct 2025 09:42:43 +0000

Artificial Intelligence (AI) is now transforming the financial industry, said Ajay Kumar Choudhary, Non-Executive Chairman of NPCI, at the 6th Global FinTech Fest 2025. He stated that AI is changing how financial services are designed and delivered, driving efficiency and inclusion across the sector.

Choudhary said investments in AI across banking, insurance, and payments may reach $100 billion by 2027. Around 78% of financial organizations already use AI in some form, up from 55% in 2023. The industry, he noted, is preparing for how fast AI will reshape its future.

He explained that Generative AI and Agentic AI are leading this change. These technologies improve fraud detection, automate compliance, enhance trading accuracy, and elevate customer experience. They could raise global banking productivity by up to $340 billion each year.

Choudhary praised India’s progress in digital innovation through NPCI’s initiatives like UPI Lite, UPI 123Pay, and UPI for Her. He said these solutions expand financial access and support women entrepreneurs and rural users across the country.

The post AI Reshaping Financial Services, Says NPCI Chairman appeared first on India Podcast.