National
Payments Corporation of India (NPCI) has been awarded the prestigious Golden
Peacock Innovative Product/Service Award for the year 2018 for its
revolutionary product Bharat Interface for Money – Unified Payments Interface
(BHIM UPI).
The award was
conferred at the presentation ceremony in Dubai last week by His Highness
Sheikh Nahyan bin Mubarak Al Nahyan, Cabinet Member & Minister of
Tolerance, Govt. of UAE.
Vishal Anand
Kanvaty, Senior Vice President – Innovation & Product, NPCI said, “We are
pleased to note that BHIM UPI is gaining wide acceptance from consumers and
merchants since its launch in August 2016. We dedicate this award to the
commitment and zeal of our member banks and non-bank entities who leveraged
this innovative technology for benefit of our economy. This award also assures
us that NPCI is heading in the right direction to achieve our vision of being
the best payments network globally.”
Manoj K. Raut,
CEO & Director, Institute Of Directors (IOD) said, “BHIM UPI has brought
out the next level of inter-operability in the retail payment system wherein a
consumer can download any of the BHIM UPI mobile app – not necessary his/her
own bank application – and still link their existing bank account. Launched
with mobile app as the access mechanism, BHIM UPI has also successfully
expanded to cater to the needs of users who either do not have smart phones or
have smart phones without internet.”
Golden Peacock
Awards, instituted by the Institute Of Directors (IOD), India in 1991, are
regarded as a benchmark of Corporate Excellence worldwide. The Awards Jury that
selected the winners was chaired by Justice (Dr.) Arijit Pasayat, former Judge,
Supreme Court of India.
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