Network People Services Technologies Limited (NPST) has announced a strategic partnership with Cosmos Co-operative Bank Ltd, aiming to revolutionize digital payment acceptance infrastructure for co-operative banks across India. This collaboration marks a significant step towards enhancing financial inclusion and digital payment adoption in semi-urban and rural markets.

Partnership Highlights

• Scope: The partnership will enable over 1,500 co-operative banks with more than 11,000 branches to offer advanced digital payment solutions.
• Technology: NPST will leverage its Qynx platform to manage the complete merchant lifecycle.
• Services: QR code and soundbox-based digital payment acceptance will be introduced without the need for individual banks to develop their own digital backend infrastructure.

Key Features of NPST's Qynx Platform

NPST's offline payment acceptance platform, Qynx, will play a crucial role in this partnership by managing various aspects of the merchant lifecycle:

Impact on Financial Inclusion

This initiative is expected to have a significant impact on financial inclusion:

1. Expanded Reach: By enabling co-operative banks to offer digital payment solutions, the partnership will extend financial services to underserved areas.
2. Simplified Adoption: Co-operative banks can now offer advanced payment solutions without the burden of developing and maintaining their own digital infrastructure.
3. Rural and Semi-Urban Focus: The collaboration specifically targets markets that have traditionally had limited access to digital financial services.

Regulatory Compliance

NPST has informed the National Stock Exchange of India Limited and BSE Limited about this partnership, in compliance with Regulation 30 read with Para C of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This partnership between NPST and Cosmos Co-operative Bank Ltd represents a significant step towards digitalizing India's co-operative banking sector. By leveraging technology to expand digital payment infrastructure, this initiative has the potential to transform financial services accessibility in semi-urban and rural India.

Network People Services Technologies Limited (NPST) has reported its financial results for the second quarter of fiscal year 2026, along with several corporate actions. The company's board meeting, held on November 12, 2025, addressed various financial and operational matters.

Financial Performance

For Q2 FY26, NPST reported:

• Total income of ₹48.61 crore, a 38.75% increase from ₹35.04 crore in Q1FY26
• EBITDA growth of 39.48% to ₹15.72 crore with margins at 32.34%
• Net profit increase of 38.39% to ₹9.93 crore

Business Highlights

• Secured new orders, including one from a large PSU bank with 3,300 branches and 4 crore customers
• Expanded QR and Soundbox services to six new states
• Launched new products including Bank-in-Box for cooperative banks
• Preparing to launch Evok 4.0 in December 2025
• Added 11 new payment aggregators
• Signed fourth bank for Payment Platform-as-a-Service

Corporate Actions

Stock Option Allotment

The board approved the allotment of 8,900 equity shares under the NPST Employee Stock Option Plan 2023 for the third tranche.

CSR Committee

A Corporate Social Responsibility Committee was constituted.

Related Party Transactions

The board reviewed related party transactions for the first half of FY 2025-26.

Preferential Allotment

NPST confirmed no deviation in the utilization of proceeds from its preferential allotment of 14,46,500 equity shares worth ₹300 crore. The funds remain unutilized and are currently invested in fixed deposits with ICICI Bank, earning a 5% return.

Regulatory Compliance

The company acknowledged payment of penalties for non-compliance under SEBI regulations and implemented corrective measures to strengthen internal compliance controls.

Subsidiary Operations

NPST incorporated a wholly-owned subsidiary, NPST Global Solutions LLC, in Dubai, UAE, on April 24, 2025. The equity capital for this subsidiary was remitted on July 1, 2025.

Monitoring Agency Report

CARE Ratings Limited, acting as the Monitoring Agency for the preferential issue, reported no deviation from the stated objectives for the funds raised. The total amount of ₹300 crore remains unutilized as of September 30, 2025, and is held in a fixed deposit.

NPST operates across three business segments: Technology Service Provider (TSP), Payment Platform-as-a-Service (PPaaS), and RegTech, serving banks and regulated entities with products including UPI, IMPS, CBDC, and fraud management solutions.