Network People Services Technologies Limited (NPST) has secured orders from three cooperative banks for its Bank-in-a-Box platform, unlocking recurring, multi-year revenue per bank.
Under the mandate, one bank will deploy NPST’s acquiring switch alongside Qynx; the other two will deploy Qynx only. Qynx is NPST’s flagship offline acquiring platform. It handles the full stack of offline merchant payment acceptance, from QR and Soundbox processing to device shipment, logistics, monitoring, and field support, giving banks the operational infrastructure to run offline merchant acquiring without building it themselves. These strategic wins are expected to strengthen the company’s long-term recurring revenue pipeline and support sustained growth.
“India’s cooperative banking sector serves millions of customers, yet most lack access to modern digital banking and payments infrastructure as the economics of building it never worked in their favour. Bank-in-a-Box, a SaaS-based distribution model, puts an enterprise-grade platform in the hands of any cooperative bank, allowing them to deploy services in weeks and unlock new revenue streams,” said Deepak Chand Thakur, Co-Founder and CEO, NPST.
NPST’s Bank-in-a-Box is a full-stack banking and payments platform delivered as a SaaS subscription. It covers UPI, IMPS, and Banking Connect (IBMB) processing, as well as online and offline merchant acceptance, AI-driven fraud monitoring, and an omnichannel SuperApp with over 400 banking services, all without the capital outlay of building any of it in-house.
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