Pay Point India Network has joined the Centralised Payment System (CPS) operated by the Reserve Bank of India, marking a shift in access to core payment infrastructure that was previously limited to banks and select large institutions such as National Payments Corporation of India, Clearing Corporation of India Limited, Deposit Insurance and Credit Guarantee Corporation, and stock exchange
With this membership, Pay Point India now has direct access to key payment systems, Real Time Gross Settlement, and National Electronic Funds Transfer, without relying on partner banks. Traditionally, non-bank entities accessed these systems indirectly, making this a structural change in participation. The company has also been assigned its own IFSC code and now maintains both a current account and a settlement account directly with the RBI.
The CPS serves as a backbone of India’s payment infrastructure, designed to provide a secure and unified platform for financial transactions. It enables both high-value and retail payments while reducing systemic risks. RTGS facilitates large-value, real-time transactions, while NEFT supports smaller retail payments processed in batches. Both systems operate круглосуточно, offering 24/7 availability throughout the year.
Entry into CPS requires compliance with technological and security standards set by the RBI, ensuring cyber resilience and operational reliability for all participants.
Direct access to CPS allows the company to reduce dependence on banks, improve transaction efficiency, and minimise delays in fund transfers. It also provides greater control over fund flows and strengthens data security, as transactions no longer pass through multiple intermediaries. Additionally, settlement directly with the RBI enhances certainty in payment finality.
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