NPCI owns and operates the Unified Payments Interface (“UPI”) platform.
NPCI prescribes rules, regulations, guidelines, and the respective roles, responsibilities and liabilities of the participants, with respect to UPI and UPI Plug-in. This also includes transaction processing and settlement, dispute management and clearing cut-offs for settlement.
NPCI approves the participation of Issuer Banks, PSP Banks, Third Party Application Providers (TPAP), and Prepaid Payment Instrument issuers (PPIs) in UPI and Partner/Merchant in UPI Plug-in.
NPCI provides a safe, secure and efficient UPI system and network.
NPCI provides online transaction routing, processing and settlement services to members participating in UPI and UPI Plug-in.
NPCI can, either directly or through a third party, conduct audit on UPI participants and call for data, information and records, in relation to their participation in UPI and UPI Plug-in.
NPCI provides the banks participating in UPI access to system where they can download reports, raise chargebacks, update the status of UPI transactions etc.