Pay Point India becomes first fintech to join RBI's Centralised Payment System

Mumbai: In a significant breakthrough for India’s fintech sector, Pay Point India Network has become the first private-sector fintech to gain membership in the Centralised Payment System (CPS) operated by the Reserve Bank of India. The development marks a major shift, as access to CPS was previously limited to banks and a small group of large institutions such as National Payments Corporation of India, Clearing Corporation of India Limited, Deposit Insurance and Credit Guarantee Corporation, and stock exchanges.

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 could only access these systems indirectly, making this a notable structural change. 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 is a critical backbone of India’s payment infrastructure, designed to provide a secure, efficient, and unified platform for financial transactions. It enables both high-value and retail payments while reducing systemic risks. RTGS handles 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 comes with stringent technological and security requirements. The RBI ensures that all participants meet high standards of cyber resilience and operational reliability, given the systemic importance of the platform.

The benefits of direct CPS access are substantial. By removing dependence on banks, the company can reduce transaction costs, improve efficiency, and minimize delays in fund transfers. It also gains better control over fund flows and enhanced data security, as transactions no longer pass through multiple intermediaries. Moreover, settlement directly with the RBI ensures greater certainty and reduces risks associated with payment finality.