NPCI or National payments Corporation of India is a non-profit company for operating retail payments in India. It was established under the Payments and Settlement Systems Act, 2007 in the year 2008. It is an initiative of RBI and the Indian Banks Association. It is headquartered in Mumbai. Bharat Bill Payment System, RuPay, BHIM, UPI, FASTag, etc. are some of the products operated by NPCI. The RBI had proposed the idea of NUE as an alternative to NPCI. The purpose is to increase competitiveness in the retail payments area.