### **1. Company Overview** Network People Services Technologies Ltd (NPST), founded in 2013 and listed on the BSE and NSE, is a leading Indian fintech company specializing in **digital banking and payments infrastructure**. Positioned at the intersection of innovation and financial inclusion, NPST operates as both a **Technology Service Provider (TSP)** and a **Payment Platform-as-a-Service (PPaaS)** provider, powering the financial ecosystems of banks, fintechs, NBFCs, payment aggregators, merchants, and government institutions. - **Core Focus Areas**: UPI, IMPS, BBPS, Open Banking, RegTech, offline payments, digital lending, and merchant acquiring. - **Key Value Proposition**: End-to-end, modular, API-first, and SaaS-based financial platforms that enable clients to modernize legacy systems, scale digital services, and comply with regulatory standards. - **Transaction Scale**: Processes over **18 billion annual transactions** (approx. 60 million daily) across 100+ customers, 15+ banks, and 150,000+ sub-merchants. --- ### **2. Business Model and Segments** NPST operates through two synergistic business verticals: #### **A. Technology Service Provider (TSP)** - Serves **banks and regulated financial institutions** with hosted digital banking solutions. - Focus: Modernization of digital infrastructure, including switching, core banking, mobile/internet banking, and interoperability. - Revenue Model: License fees, AMC, man-month support, and **SaaS-based hosted deployments**. #### **B. Payment Platform-as-a-Service (PPaaS)** - Offers **managed payment infrastructure** for payment aggregators, gateways, and large merchants. - Products include Evok 3.0/4.0, Qynx, and payment orchestration platforms. - Revenue Model: Per-transaction, per-user, or monthly subscription (usage-based), ensuring revenue scalability with client growth. --- ### **3. Strategic Growth Initiatives (2025)** #### **A. Product Innovation & Diversification** - **Bank-in-a-Box**: A full-stack, hosted digital banking suite enabling small and mid-sized banks to launch UPI, IMPS, BBPS, and customer engagement services via plug-and-play architecture. - **Banking Connect**: NPCI-compliant **interoperable internet and mobile banking platform**, launched in Nov 2025. One of the first in India to offer unified access across bank digital platforms, reducing integration costs. - **Evok 4.0 (Upcoming)**: Next-gen PPaaS with enhanced early settlement, CASA growth support, higher success rates, and payout interoperability—target launch Jan 2026. - **RuPay-Powered NCMC Prepaid Card**: Launched with NSDL Bank for urban mobility and digital payments, revenue via **SaaS per-transaction model**. - **Bharat Connect B2B**: India’s first B2B payments app (in development) to digitize invoicing, collections, and financing—expected SaaS revenue from FY27. - **Risk Intelligence Decisioning Platform (RIDP)**: AI/ML-powered RegTech engine with >90% fraud prediction accuracy for merchant acquiring. #### **B. Expansion of SaaS-Driven Revenue** - All key offerings (Bank-in-a-Box, BBPS, UPI Switch, QR Solutions) are now **SaaS-based**, driving predictable, recurring revenue. - Transitioned from short-cycle models to **60–90-day client billing cycles**, indicating client stickiness and business maturity. #### **C. Market Expansion** - **Domestic**: Targeting **public sector, government accounts**, and **cooperative/regional rural banks (RRBs)**, following RBI's inclusion of UCBs in UPI merchant ecosystem—expanding addressable market to 670+ banks. - **International**: - Secured first major contract to build **national-scale DPI (Digital Public Infrastructure)** in **Africa’s 4th largest economy**. - Established **Dubai-based subsidiary** to serve Middle East and Africa (MEA) markets. - Strategy: “Make in India, Scale Globally” using **India Stack** as a reference model. --- ### **4. Technology and Innovation Leadership** #### **AI & Cloud Transformation** - **AI-Native Strategy**: Embedding GenAI and LLMs across the SDLC to accelerate product development, improve coding quality, and reduce time-to-market. - **Agentic AI Integration**: Being rolled out in the Banking Super App for natural language interactions, proactive support, and autonomous task execution (e.g., bill payments, savings). - **Cloud-First**: Hosted SaaS model reduces client TCO and enables faster deployment for cooperative, rural, and smaller banks. #### **Platform Architecture** - **Modular, API-First, Cloud-Native** design supports scalability, resilience, and rapid integration with national rails (UPI, CBDC, ONDC, BBPS). - Core Platform Layers: 1. **Transactional Layer** (UPI, BBPS) 2. **Intelligence Layer** (AI/ML for fraud, risk) 3. **Operational Command Layer** (real-time monitoring and control) --- ### **5. Key Projects & Client Wins (2025)** - **Central Bank of India**: 40% share in nationwide **Qynx Offline Payments** rollout (4,600+ branches), multi-year contract. - **Kerala & Karnataka Gramin Banks**: Deployed Banking Super App and hosted solutions to serve rural customers. - **Spice Money & Gujarat State Cooperative Bank**: Won UPI switching contracts. - **NSDL Payments Bank**: Partnered for **EvoK-based merchant payouts and online acquiring**. - **Public Sector Bank (PSU)**: Secured major **BBPS order** and integrated **credit-on-UPI** via Hyperface. - **Mahindra Finance**: Adopted EvoK SDK to embed financial services in customer apps. - **Africa**: First international project to build national digital payment rails—incremental revenue expected FY26 H1. --- ### **7. Competitive Advantages** - **First-Mover in Key Innovations**: Banking Connect Switch, IBMB Interoperability, CBDC infrastructure, Bharat Connect B2B. - **Fully Integrated Value Chain**: Only provider offering end-to-end solutions across TSP, PPaaS, devices, and RegTech. - **Hosted SaaS Model**: Lowers client TCO, speeds deployment, improves scalability—especially for smaller banks. - **Strong Partnerships**: - OEMs (hardware integration for Qynx QR/SoundBox) - Cloud & Core Banking providers (bundling solutions) - Government/PSUs (empaneled for digitization projects) - NBBL, NPCI, NSDL Bank, Hyperface --- ### **8. ESG & Financial Inclusion** - Extending UPI to **feature phones** and integrating **voice-led payments** with Alexa/Google Assistant for accessibility. - Enabling **rural and MSME financial inclusion** via SoundBox, Qynx DaaS, and Banking Super Apps. - Promoting **“Make in India”** through local OEM partnerships and domestic product development. --- ### **9. Recent Milestones & Recognition** - **Frost & Sullivan ‘Company of the Year 2024’** in Payments Technology. - Awarded at **Bharat Fintech Summit 2025** for RegTech innovation. - Transitioned from **SME to Mainboard**, signaling enhanced market credibility and liquidity. - Achieved **126–128% CAGR in net profit & transaction volume** (2020–2024).