NPCI working on Digital Payments Score (A new kind of credit bureau to scale up credit economy in India)

[Abhishek012]

NPCI working on Digital Payments Score (A new kind of credit bureau to scale up credit economy in India):

The National Payments Corporation of India (NPCI) is planning to come up with a Digital Payments Score (DPS) aimed at strengthening the country’s credit scoring system while creating more efficiency and growth, a top NPCI official said here on Wednesday.

According to senior executives from NPCI, this will be piloted with a few lenders in the near future.

“We at NPCI are working to look at whether there is an opportunity to create a digital payment score that can become part of the credit scoring process. We will be piloting this with a couple of lenders and then see how this really works out,” said Praveena Rai, Chief Operating Officer (COO), NPCI.

Rai was speaking at the Bharat Fintech Summit ‘24 in Mumbai.

“When it comes to credit scoring in India, the data scoring models are still far behind the level of sophistication one would find in many developed markets,” she added.

Rai elucidated that awareness of credit identity is going to become important, and the industry along with the ecosystem will have to step up to do so.

“The need to create and build a strong awareness of the need for people to build a credit identity is still lacking. In a market like the US, even a student will start using a credit card not because they need it but because they just want to build up their credit identity,” she added.

In terms of parameters, DPS may look at indicators like stability in a person’s finances such as timely payments, periodic bill payments, and if a person who frequently transacts for high-value items has the income to support them.

“Whether there are open source platforms, alternate data sources, decentralised collections, or more sort of work on the bureau side, it may probably be the evolution of new kind of bureau which looks at these new kinds of scores. This convergence for us to really take the digital payment story and tie it up with that credit opportunity will lead to a situation where we can formalise this credit economy, grow and scale the credit economy and create more efficiency and growth,” she added.

 

[Aniket]

NPCI working on Digital Payments Score (A new kind of credit bureau to scale up credit economy in India):
The National Payments Corporation of India (NPCI) is planning to come up with a Digital Payments Score (DPS) aimed at strengthening the country’s credit scoring system while creating more efficiency and growth, a top NPCI official said here on Wednesday.

According to senior executives from NPCI, this will be piloted with a few lenders in the near future.

“We at NPCI are working to look at whether there is an opportunity to create a digital payment score that can become part of the credit scoring process. We will be piloting this with a couple of lenders and then see how this really works out,” said Praveena Rai, Chief Operating Officer (COO), NPCI.

Rai was speaking at the Bharat Fintech Summit ‘24 in Mumbai.

“When it comes to credit scoring in India, the data scoring models are still far behind the level of sophistication one would find in many developed markets,” she added.

Rai elucidated that awareness of credit identity is going to become important, and the industry along with the ecosystem will have to step up to do so.

“The need to create and build a strong awareness of the need for people to build a credit identity is still lacking. In a market like the US, even a student will start using a credit card not because they need it but because they just want to build up their credit identity,” she added.

In terms of parameters, DPS may look at indicators like stability in a person’s finances such as timely payments, periodic bill payments, and if a person who frequently transacts for high-value items has the income to support them.

“Whether there are open source platforms, alternate data sources, decentralised collections, or more sort of work on the bureau side, it may probably be the evolution of new kind of bureau which looks at these new kinds of scores. This convergence for us to really take the digital payment story and tie it up with that credit opportunity will lead to a situation where we can formalise this credit economy, grow and scale the credit economy and create more efficiency and growth,” she added.

Achee din 😑😂

 

[akshayhs]

People will game this system as well!

 

[panchabhut]

they should first make UPI 100% failure free and make sure their cashbacks do not result in failures.

 

[Abhishek012]

they should first make UPI 100% failure free and make sure their cashbacks do not result in failures.

UPI already have 99.9978% success rate (some months 100% too).

The reasons for failure are banks server. Banks server dnt work 24*7. Since some UPI transactions involve multiple banks, that's why the failure rate is high.

UPI Top 50 Banks Performance (Dec'23)​

Sr. No.	UPI Remitter Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
UPI Remitter Banks - Top 50 Banks (Dec'23)
1	State Bank Of India	3073.18	95.23%	4.34%	0.43%	12.75	83.74%
2	HDFC BANK LTD	1040.77	96.50%	3.44%	0.06%	3.63	97.57%
3	Bank of Baroda	766.81	94.55%	4.94%	0.51%	3.30	87.02%
4	Union Bank of India	745.87	94.86%	4.38%	0.76%	5.38	59.66%
5	Punjab National Bank	607.36	95.25%	4.59%	0.17%	2.35	97.94%
6	Kotak Mahindra Bank	588.94	94.40%	5.11%	0.49%	2.47	68.44%
7	Canara Bank	563.67	94.26%	5.38%	0.37%	2.43	86.37%
8	Axis Bank Ltd.	562.18	96.43%	3.57%	0.01%	1.67	87.70%
9	ICICI Bank	556.61	96.39%	3.28%	0.33%	2.06	82.59%
10	Paytm Payments Bank	410.19	96.37%	3.63%	0.00%	0.79	97.55%
11	Bank of India	384.87	95.78%	4.03%	0.18%	1.47	86.96%
12	Indian Bank	338.76	95.28%	4.52%	0.20%	1.19	90.68%
13	Airtel Payments Bank	320.02	88.41%	8.15%	3.43%	3.34	0.00%
14	India Post Payment Bank	247.32	82.43%	11.85%	5.72%	2.43	32.30%
15	Federal Bank	184.64	95.56%	4.34%	0.10%	0.49	98.15%
16	Central Bank Of India	177.99	86.46%	11.95%	1.59%	1.98	82.45%
17	Indian Overseas Bank	160.68	93.86%	4.42%	1.72%	1.06	91.36%
18	UCO Bank	147.86	94.38%	5.06%	0.56%	0.70	68.51%
19	IDBI Bank Limited	139.37	94.99%	3.80%	1.21%	0.84	90.96%
20	Bank of Maharashtra	133.33	94.32%	4.68%	1.00%	0.57	75.93%
21	INDUSIND BANK	120.30	92.92%	6.12%	0.97%	0.76	88.04%
22	Fino Payments Bank Limited FIP	107.84	90.01%	8.54%	1.45%	0.49	71.76%
23	Yes Bank Ltd	97.36	95.39%	4.51%	0.10%	0.22	96.73%
24	Karnataka Bank	96.35	92.95%	5.48%	1.57%	0.54	52.69%
25	IDFC FIRST Bank	75.11	93.58%	6.38%	0.04%	0.25	90.45%
26	Karur Vysya Bank	58.61	93.73%	5.71%	0.56%	0.29	97.83%
27	South Indian Bank	48.80	96.11%	3.82%	0.08%	0.12	97.34%
28	Jammu and Kashmir Bank	48.75	69.74%	25.78%	4.48%	0.65	13.43%
29	Bandhan Bank	47.39	92.57%	6.71%	0.72%	0.20	98.39%
30	Ujjivan Small Finance Bank	36.67	93.65%	5.57%	0.78%	0.19	68.80%
31	AU small Finance Bank	36.18	94.68%	4.30%	1.02%	0.26	99.01%
32	City Union Bank	34.96	93.56%	6.10%	0.34%	0.11	94.31%
33	Tri O Tech Solutions Private Limited	34.24	100.00%	0.00%	0.00%	NA	NA
34	Punjab and Sind Bank	31.50	89.74%	6.25%	4.01%	0.57	24.84%
35	Tamilnad Mercantile Bank	30.97	94.34%	5.15%	0.51%	0.12	89.05%
36	Equitas Bank	28.13	93.09%	6.89%	0.02%	0.10	97.07%
37	Standard Chartered	27.13	95.82%	2.10%	2.08%	0.19	48.75%
38	Kerala Gramin Bank	25.29	93.63%	6.11%	0.27%	0.08	92.04%
39	DBS Bank India Limited	24.94	95.90%	4.08%	0.02%	0.08	78.43%
40	Andhra Pradesh Grameena Vikas Bank	24.85	88.05%	10.56%	1.39%	0.10	76.31%
41	Pragathi Krishna Gramin Bank	23.88	91.21%	8.32%	0.46%	0.11	88.68%
42	Maharashtra Gramin Bank	22.04	85.60%	10.75%	3.65%	0.09	67.31%
43	Saraswat Bank	21.70	94.44%	4.88%	0.68%	0.09	67.20%
44	Baroda UP Gramin Bank	20.77	51.12%	9.10%	39.78%	2.65	12.92%
45	Citibank	20.47	96.75%	3.06%	0.19%	0.07	98.45%
46	ESAF Small Finance Bank Ltd.	19.79	94.55%	5.13%	0.31%	0.08	93.77%
47	HDFC Bank Credit Card HCB	19.02	94.17%	5.61%	0.21%	0.16	97.49%
48	Rajasthan Marudhara Gramin Bank	18.75	87.95%	10.82%	1.23%	0.09	69.57%
49	Fincare Small Finance Bank Ltd	16.01	87.76%	11.47%	0.76%	0.07	92.37%
50	RBL Bank	14.966911	80.11%	6.09%	13.80%	0.25	39.77%

UPI Top 50 Banks Performance (Dec'23)​

Sr.No.	UPI Beneficiary Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
UPI Beneficiary Banks - Top 50 Banks (Dec'23)
1	Paytm Payments Bank	2835.27	99.90%	0.07%	0.03%	0.00%
2	Yes Bank Ltd	2269.48	99.95%	0.04%	0.01%	0.00%
3	State Bank Of India	1252.21	99.50%	0.19%	0.30%	0.07%
4	Axis Bank Ltd.	967.52	99.90%	0.09%	0.01%	0.01%
5	ICICI Bank	647.97	99.36%	0.48%	0.16%	0.07%
6	HDFC BANK LTD	549.41	97.80%	2.13%	0.06%	0.05%
7	Bank of Baroda	333.64	99.32%	0.25%	0.43%	0.13%
8	Union Bank of India	326.55	99.49%	0.19%	0.33%	0.26%
9	Federal Bank	291.79	99.65%	0.29%	0.06%	0.00%
10	Punjab National Bank	270.17	99.41%	0.51%	0.08%	0.11%
11	Canara Bank	268.75	99.06%	0.67%	0.27%	0.12%
12	Kotak Mahindra Bank	233.06	99.28%	0.46%	0.26%	0.22%
13	Indian Bank	182.11	98.93%	0.67%	0.40%	0.04%
14	Bank of India	179.90	99.58%	0.24%	0.17%	0.08%
15	Airtel Payments Bank	174.41	97.63%	0.43%	1.94%	0.59%
16	INDUSIND BANK	135.25	99.07%	0.34%	0.59%	0.50%
17	India Post Payment Bank	108.03	96.76%	0.37%	2.87%	0.25%
18	Central Bank Of India	85.35	98.70%	0.51%	0.80%	0.45%
19	Indian Overseas Bank	75.21	98.44%	0.32%	1.23%	0.50%
20	UCO Bank	73.18	98.84%	0.68%	0.48%	0.11%
21	IDBI Bank Limited	62.13	98.98%	0.43%	0.59%	0.15%
22	RBL Bank	55.75	91.43%	0.30%	8.27%	0.41%
23	Bank of Maharashtra	52.68	98.84%	0.28%	0.88%	0.15%
24	Fino Payments Bank Limited	50.18	97.67%	1.33%	1.00%	0.05%
25	IDFC FIRST Bank	47.49	98.43%	1.53%	0.04%	0.03%
26	Karnataka Bank	42.03	98.09%	0.54%	1.37%	0.23%
27	South Indian Bank	31.89	99.52%	0.41%	0.07%	0.01%
28	Karur Vysya Bank	31.85	98.07%	1.58%	0.35%	0.04%
29	Bandhan Bank	28.20	98.57%	0.43%	1.00%	0.00%
30	AU small Finance Bank	24.92	96.89%	2.38%	0.73%	0.36%
31	Tamilnad Mercantile Bank	19.90	99.35%	0.19%	0.47%	0.03%
32	Ujjivan Small Finance Bank	19.06	98.60%	0.82%	0.59%	0.26%
33	City Union Bank	18.56	98.56%	1.13%	0.31%	0.05%
34	Jammu and Kashmir Bank	17.46	97.22%	0.37%	2.41%	1.04%
35	Tri O Tech Solutions Private Limited	16.54	95.50%	4.49%	0.01%	0.00%
36	Kerala Gramin Bank	14.38	99.62%	0.25%	0.12%	0.15%
37	Punjab and Sind Bank	14.18	97.23%	0.45%	2.32%	0.95%
38	Equitas Bank	12.95	97.93%	1.91%	0.15%	0.01%
39	Pragathi Krishna Gramin Bank	12.34	99.42%	0.42%	0.17%	0.20%
40	Andhra Pradesh Grameena Vikas Bank	11.92	98.71%	0.97%	0.32%	0.07%
41	Baroda UP Gramin Bank	10.80	71.76%	0.67%	27.57%	10.95%
42	Maharashtra Gramin Bank	10.40	96.73%	0.28%	2.99%	0.17%
43	DBS Bank India Limited	10.08	98.53%	1.44%	0.03%	0.03%
44	ESAF Small Finance Bank Ltd.	10.01	99.62%	0.13%	0.24%	0.11%
45	Rajasthan Marudhara Gramin Bank	9.36	98.92%	0.50%	0.58%	0.10%
46	ONE MOBIKWIK SYSTEMS LIMITED	8.95	99.65%	0.00%	0.35%	0.01%
47	Andhra Pragathi Grameena Bank	7.80	95.75%	1.02%	3.22%	0.18%
48	Saraswat Bank	7.54	99.25%	0.19%	0.56%	0.18%
49	CITI Bank	7.31	99.82%	0.00%	0.18%	0.22%
50	Fincare Small Finance Bank Ltd	7.26	95.90%	1.92%	2.17%	0.01%

Glossary​

• Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
• Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
• The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
• Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
• Remitter - The account holder who is sending the money
• Beneficiary - The account holder who is receiving money
• Remitter Bank - The bank of the account holder who is sending the money
• Beneficiary Bank - The bank of the account holder who is receiving money

 

[Vasuki]

People will game this system as well!

😎 Every system have pro players. No matter their difficulty. .
One who knows the art bells the cat

 

[panchabhut]

which bank/wallet belongs to Tri O Tech Solutions Private Limited

 

[D₹V]

NPCI working on Digital Payments Score (A new kind of credit bureau to scale up credit economy in India):

The National Payments Corporation of India (NPCI) is planning to come up with a Digital Payments Score (DPS) aimed at strengthening the country’s credit scoring system while creating more efficiency and growth, a top NPCI official said here on Wednesday.

According to senior executives from NPCI, this will be piloted with a few lenders in the near future.

“We at NPCI are working to look at whether there is an opportunity to create a digital payment score that can become part of the credit scoring process. We will be piloting this with a couple of lenders and then see how this really works out,” said Praveena Rai, Chief Operating Officer (COO), NPCI.

Rai was speaking at the Bharat Fintech Summit ‘24 in Mumbai.

“When it comes to credit scoring in India, the data scoring models are still far behind the level of sophistication one would find in many developed markets,” she added.

Rai elucidated that awareness of credit identity is going to become important, and the industry along with the ecosystem will have to step up to do so.

“The need to create and build a strong awareness of the need for people to build a credit identity is still lacking. In a market like the US, even a student will start using a credit card not because they need it but because they just want to build up their credit identity,” she added.

In terms of parameters, DPS may look at indicators like stability in a person’s finances such as timely payments, periodic bill payments, and if a person who frequently transacts for high-value items has the income to support them.

“Whether there are open source platforms, alternate data sources, decentralised collections, or more sort of work on the bureau side, it may probably be the evolution of new kind of bureau which looks at these new kinds of scores. This convergence for us to really take the digital payment story and tie it up with that credit opportunity will lead to a situation where we can formalise this credit economy, grow and scale the credit economy and create more efficiency and growth,” she added.

I'm really excited 😍.

No matter what others say about it🗿.

 

[Abhishek012]

which bank/wallet belongs to Tri O Tech Solutions Private Limited

Fampay app -

FamX Re-launched RuPay Prepaid Card Today + Wallet UPI​

FamX Re-launched RuPay Prepaid Card Today + Wallet UPI

FamX Re-launched RuPay Prepaid Card Today + Wallet UPI: Website: https://www.famapp.in/ Note - Fampay Wallet will also support Wallet UPI.

www.technofino.in

 

[quino]

Paytm Payments Bank

410.19

96.37%

3.63%

0.00%

shows why Paytm is king in upi. 0% TD, which no other bank has.

 

[quino]

Tri O Tech Solutions Private Limited

34.24

100.00%

0.00%

0.00%

famx has 100% success rate? that sounds made-up. anyone has experience of famx upi?