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 achieved significant milestones in its corporate development, with recent trading approvals complementing its strong operational performance.

Trading Approval for Preferential Allotment

The company has received trading approval from both major stock exchanges for its preferential allotment of equity shares. The approval details are presented below:

The shares carry distinctive numbers from 19395251 to 20841750 and are now listed and admitted for trading on both exchanges.

Strong Q2 Financial Performance

NPST has demonstrated robust financial growth in its second quarter results:

Business Expansion and Product Portfolio

The company has diversified its offerings with new product launches including Banking Connect for enhanced interoperability, Bank-in-a-Box SaaS solution for smaller banks, and the Queens platform for offline payments. The business segments show strong contribution patterns with the Technology Service Provider segment contributing 80-85% of revenue, while Payment Platform as a Service accounts for approximately 15%.

International Market Presence

NPST has expanded its global footprint through strategic initiatives in Africa with SaaS-based revenue models and established operations in Dubai. The company is actively exploring opportunities in UAE and Southeast Asia markets, positioning itself for international growth.

Future Growth Strategy

The company is focusing on revenue diversification across payment platforms, securing new TSP segment accounts, and developing SaaS-based solutions for RegTech and Bank-in-a-Box offerings. NPST is also investing in AI technologies to achieve at least 40% operational optimization over the coming years.

With India's UPI transaction volume expected to grow from 20 billion to 60 billion monthly transactions in the next four years, NPST's diversified approach and recent capital structure enhancement through the preferential allotment position it well for sustained growth in the dynamic fintech landscape.