National Payments Corporation of India (NPCI) has announced the launch of NPCI International Payments Limited (NIPL), its wholly-owned subsidiary firm. NIPL’s task would be to take care of exporting NPCI’s internally developed offerings to foreign markets. However, the primary focus of NIPL would be the internalization of RuPay and UPI and other issues concerning the offerings of NPCI.

Ritesh Shukla has been appointed the CEO of NIPL. His role would be to formulate business strategy, lead business development and drive the profitability of that business by making use of NPCI’s pre-existing technology and solutions not just here at home but on an international level and market. Shukla would be an ideal choice for this strategy since he already has over two decades of overall experience in banking and payments space.

Notably, Ritesh Shukla has also been a part of Mastercard’s business in the Middle East and North Africa (MENA). There, he was in charge of sales, business development, P/L functions and what not to further push profitability and market share. Shukla’s resume also has names such as Axis Bank, HDFC Bank, SBI Cards as his previous employers.

We are glad to launch our subsidiary – NIPL to take our unique payment system to global markets. It is also a matter of pride for NPCI that several countries such as Asia, Africa, and the Middle East have displayed an interest in replicating our model in their own nation. To help retail NPCI’s focus on its international ambitions, we would like to welcome Ritesh Shukla as the new CEO along with Anubhav Sharma and Rina Penkar. We look forward to witnessing NIPL scaling new highs by offering NPCI’s innovations to several nations and showcase a true example of Atmanirbhar Bharat.

Anubhav Sharma, the Head International Businesses– Partnership, Business Development & Marketing, Rina Penkar of Product Development would also join Shukla as NIPL core team on its new adventurous journey. Dilip Asbe, MD and CEO, NPCI said,

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