- Published on April 8, 2024
- In AI Features
NPCI is Exploring AI-Powered Futuristic Payment Frontiers: CTO
Payment operators like NPCI can establish a collaborative platform, where fintechs and other stakeholders can co-create and share AI models.
- By Pritam Bordoloi
The National Payments Corporation of India (NPCI) was at the heart of the widespread adoption and success Unified Payments Interface (UPI) had in India. Now, NPCI is experimenting with AI to further enhance the payment ecosystem in India.
“NPCI is exploring futuristic use cases for payment operators focusing on technologies like graph analysis, speech recognition, ANPR (Automatic Number Plate Recognition) as well as generative AI,” Vishal Kanvaty, chief technology officer at NPCI, told AIM in an exclusive interaction.
The most intriguing among them is using ANPR, which typically involves a combination of computer vision and machine learning techniques.
“Leveraging ANPR technology at toll booths and parking facilities enables seamless and contactless payments by automatically
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Pritam Bordoloi
I have a keen interest in creative writing and artificial intelligence. As a journalist, I deep dive into the world of technology and analyse how it’s restructuring business models and reshaping society.
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