NPST wins Indian Overseas Bank mandate to deploy voice-based UPI solution

Network People Services Technologies (NPST), a digital payments infrastructure provider, has been awarded a mandate by Indian Overseas Bank (IOB) to implement UPI 123Pay — a voice-based Unified Payments Interface (UPI) solution that enables digital payments for both feature phone users and those less comfortable with smartphone interfaces.

India still has an estimated 850 million individuals who have not adopted UPI, including about 400 million feature phone users. To bridge this gap, the Reserve Bank of India has encouraged the adoption of inclusive technologies that bring digital payments to users with limited digital literacy or unreliable internet access.

Through its partnership with MissCallPay, NPST will enable IOB customers to make UPI transactions without internet connectivity. Users can initiate a transaction by giving a missed call to a designated number and completing the payment through an interactive voice response (IVR) system by entering the amount and UPI PIN.

The solution, which operates entirely offline, enhances accessibility and security in low-connectivity areas by minimising exposure to cyber risks. It supports 12 Indian languages and allows customers to check balances, view recent transactions, raise disputes, manage UPI PINs, and even resume interrupted transactions via IVR.

“Voice-based UPI marks a transformative step towards building a truly inclusive digital economy,” said Deepak Chand Thakur, Chairman and Managing Director of NPST. “By extending UPI to feature phone users and individuals less familiar with technology, we are ensuring that digital payments reach every segment of society. Looking ahead, we see immense potential in combining this voice-led framework with emerging Agentic AI capabilities to create conversational payment experiences through platforms like Alexa and Google Assistant.”

Founded in 2013 by Deepak Chand Thakur, Ashish Aggarwal, and Savita Vashist, NPST started as a banking software provider and has since evolved into a platform player offering Payment Platform-as-a-Service (PPaaS) solutions to banks, fintechs, and payment aggregators.
Earlier this year, the company migrated from NSE Emerge to the main boards of the NSE and BSE, marking a major milestone in its growth journey.