Connect with us

News

Indian payments chief thinks AI will be heavily involved in next era of digital payment growth

info

Published

on

MTW 2026 NPCI Dilip.jpg

India’s digital payment share has increased over the years, with the Unified Payment Interface (UPI) growing to over 750 million daily transactions. With an aim to reach over a billion daily transactions, Dilip Asbe, MD and CEO of the National Payments Corporation of India, which oversees UPI, thinks AI would be heavily involved in the next phase for user growth, fraud prevention, and credit distribution.

During an interview with TechCrunch at Mumbai Tech Week (MTW) 2026 last month, Asbe said AI could drive the next half a billion users with NPCI, India’s central bank, and the government working together.

“AI will be used very effectively when we look at the next wave of UPI, and that includes all aspects, including reaching new users. We must use AI effectively to protect our current citizens, to find fraud, and to find mules. AI must also be used to provide credit to all the users and merchants who have digital footprints,” he said. “We must use AI to look at the voice and multilingual solutions to make onboarding simpler.”

Many companies have talked about voice as an interface being important in India for chatting with companies or systems. Asbe believes that it is early days for that, as voice models will need to be more accurate. NPCI launched a voice assistant-based interactive system in 2023. Asbe noted that adoption for that yet to take off, and with the right use case, voice can become a critical component in the payment ecosystem.

AI in finance and regulations

In the U.S., startups and public companies are racing to add AI to finance. Coinbase and Robinhood now allow agents to trade on users’ behalf, and OpenAI lets you load personal account data into ChatGPT to get financial advice. NPCI has shown some demos around agentic commerce and payments with Razorpay last year. However, there hasn’t been a wider rollout of some of these capabilities.

NPCI’s CEO thinks that with robust regulations and a framework, India can also adopt AI-powered finance. He said that there should be enough protection for users and mitigation for risk — and in case something goes wrong, the system should be able to look at the instructions and consent given by the user to an agent.

Besides the usage of models, Asbe thinks that the Indian finance ecosystem has an opportunity to build small language models.

“We believe that the models will differentiate from each other based on the data sets that are made available to them,” he said. “We have a very rich data set in our ecosystem. I think there is a big opportunity for Indian companies — the banks, FinTechs, and the ecosystem — to create small language models which are sharp, specific, and as deterministic as possible.”

Last year, NPCI launched a model called FIMI to solve user disputes. Asbe noted that it is serving over a million users to cancel mandates and resolve issues, and is scaling fast.

UPI competition

NPCI has long sought healthy competition between UPI apps, but data suggests that Walmart-owned PhonePe and Google Pay have over 80% of the market share. The regulator’s plan to cap an app’s market share at 30% is set to take effect on December 31, 2026, unless it defers the deadline date again.

During the conversation, Asbe said that UPI apps have very low switching costs and most core features are shared. He noted that PhonePe and Google have poured millions into their apps to attain their market position. He said that if new apps find viable business models within the fintech ecosystem, their share will rise.

“I believe that there are multiple issues why we see this concentration risk exist, and one of the important reasons is the availability of a viable commercial model. The moment we see the commercial model being available to the ecosystem, I believe newer players will start investing very heavily,” Asbe said.

In 2024, the payment body spun off its BHIM UPI app to make it more competitive and grow its usage. While its transaction volume has grown, its overall market share is around 1%. Asbe said that with BHIM, there is no particular target market share NPCI is eyeing. But it wants to make it a sovereign and secure alternative to other apps, Asbe said.

India is one of the biggest digital economies, and investors around the world will be looking at the regulatory landscape to put money into newer fintech solutions and make the market more competitive.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Plateau government disburses N1.5 billion intervention funds to attack victims

info

Published

on

By

Caleb Mutfwang 5.jpg

The Plateau government has disbursed N1.5 billion in intervention funds to victims of attacks across five local government areas (LGAs) of the state.

Governor Caleb Mutfwang formally inaugurated the disbursement of the funds on Monday in Jos.

Speaking, Mr Mutfwang explained that while N1 billion was an intervention donated earlier by the First Lady, Oluremi Tinubu, N500 million came from the State Government.

He described the intervention as a practical expression of compassion, solidarity and shared responsibility towards families whose lives and livelihoods had been disrupted by violence.

He explained that the first phase of the intervention would focus on direct financial assistance to affected households, adding that subsequent interventions would support the recovery and rebuilding of communities.

“1,571 affected households in Bassa, Riyom, Barkin Ladi, Bokkos and Mangu LGAs have been selected for the first phase; this is the disbursement of funds to heads of households,” he said.

Mr Mutfwang thanked the first lady for the intervention, noting that the gesture demonstrated compassion and concern for citizens facing the consequences of violent attacks.

He said that the state government’s decision to contribute an additional N500 million was a reflection of its responsibility to support its citizens, particularly in moments of hardship and vulnerability.

“The true measure of this intervention will not simply be what happens within these walls today.

“Its real success will be seen when our communities are able to stand again, livelihoods are restored, families can return home safely and people can live together in peace and dignity,” he stated.

Mr Mutfwang reiterated the commitment of his administration to working closely with traditional rulers and security agencies to promote peaceful coexistence and support the rebuilding and recovery of affected communities.

Also speaking, Nentawe Yilwatda, the national chairman of the All Progressives Congress, thanked the first lady for the gesture.

Mr Yilwatda urged the beneficiaries to put the funds to good use.

He particularly advised them to invest in ventures capable of generating sustainable livelihoods.

Earlier, Kacholom Gang, the commissioner for humanitarian affairs in the state, said that the beneficiaries were selected through a structured identification and verification exercise across the affected LGAs.

She reaffirmed the government’s commitment to ensuring the effective implementation of the intervention.

She noted that the government would continue to provide support to citizens of the state facing humanitarian challenges.

(NAN)

Continue Reading

News

Perfect 10s, Statement Wins And New Stars: SHOWTIME Bowl Series XV Explodes Into Life In Blockbuster Week One

info

Published

on

By

WhatsApp Image 2026 09 21 at 6.52.47 PM.jpeg

The opening week of SHOWTIME Bowl Series XV delivered exactly the kind of beginning the new season needed, combining huge victories, individual brilliance and a competitive battle that offered an early glimpse of the stories likely to shape another fascinating campaign at Showtime Arena.

With Lagos Knights opening their title defence in devastating fashion, Lagos Rebels producing a 56-point offensive showcase and Ibom Raptors emerging from a much tighter contest, Week One was not simply about collecting victories. It was also about players beginning to build their identities, teams establishing early standards and SHOWTIME’s expanding statistics and player-rating system giving supporters another way to understand who truly influenced each game.

Read Also: Raptors Strike First! Taiwo Inspires 21-12 Victory As Ibom Launch Season XV With Statement Win | Sports247 Nigeria

Defending champions Lagos Knights produced the biggest victory of the week, defeating Delta Braves 60-7 in an emphatic start to their campaign. The Knights, who captured their first SHOWTIME Bowl championship last season, immediately demonstrated that the celebrations have not reduced their appetite for success.

At the centre of the performance was Kayode Mafe. The Season XIV MVP started the new campaign with another commanding display and was rewarded with a perfect 10.0 rating. Mafe repeatedly unlocked the Delta defence, connecting with several receivers for touchdowns as the Knights built a commanding advantage.

But perhaps one of the most significant developments for Lagos was the performance of Anyaorah Lotanna, who also received a 10.0 rating. Lotanna repeatedly connected with Mafe for touchdowns, giving the champions another major attacking weapon and showing why individual player tracking could become one of the most compelling features of Series XV.

Fatai Praise, rated 7.7, was another strong performer for the Knights, while Delta Braves will have plenty to assess after a difficult opening assignment. The 60-7 result gives Lagos an explosive beginning, but with the season still young, it is only the first chapter of their title defence.

If the Knights delivered the biggest score, Lagos Rebels were not far behind.

The Rebels overwhelmed Cross River Ikan Sports 56-13, with two more players joining the Week One perfect-rating club. Fawaz Azeez and Sulaimon Alhameen both received 10.0 ratings, reflecting their influence on an attacking performance that repeatedly stretched the Cross River defence.

Alhameen orchestrated much of the damage from quarterback, while Fawaz emerged as a devastating scoring target. The combination repeatedly produced touchdowns and quickly turned the contest in Lagos Rebels’ favour.

There was quality around them too. Divine Eric recorded an 8.4 rating, Mofeoluwa Akinrinmade finished with 8.3, Ruth Chilaka earned 7.7 and Onyinye Udueze registered 7.5, demonstrating the number of contributors behind the Rebels’ opening victory.

Cross River Ikan Sports may have suffered defeat, but Abayomi Agbayewa’s 7.4 rating provided one of the positives from their opening appearance. The challenge now will be turning individual bright moments into greater consistency as Series XV develops.

The week’s closest contest came between Ibom Raptors and Lagos Greenbacks, and it provided a very different test.

Ibom Raptors emerged with a 21-12 victory, although the play-by-play data supplied from the SHOWTIME match page records scoring sequences reaching 21-14, meaning the published final score and detailed match log appear to contain a discrepancy that may require clarification. The official result graphic lists the game as 21-12.

What is not in doubt is that this was a much more competitive encounter than the week’s two major blowouts.

Taiwo Oluwalanu, the Raptors quarterback, received the team’s highest rating at 7.5, while Aisha Raji Oluwatosin earned 7.0 and Moyosore Adolphus 6.6. Lagos Greenbacks defender Precious George recorded 7.6, the highest displayed rating across the Greenbacks, after making her presence felt defensively, including several pass break-ups. Emmanuel Ojirinnaka also recorded a strong 7.0 rating.

Taken together, the three results produced an intriguing opening picture: Lagos Knights and Lagos Rebels supplied the fireworks, while Ibom Raptors showed they can navigate a considerably tighter contest.

But perhaps the most exciting part of Week One was the emergence of the perfect 10.

Kayode Mafe. Anyaorah Lotanna. Fawaz Azeez. Sulaimon Alhameen.

Four players, across two different teams, beginning Series XV with the maximum displayed rating.

That gives SHOWTIME something increasingly valuable as the league grows: identifiable stars backed by visible performance data. Supporters are no longer limited to knowing who won and lost. They can follow player ratings, positions, match events and individual performances, creating debates around who was outstanding, who is improving and who could become the next major name in Nigerian flag football.

It also matters commercially. Sponsors looking at SHOWTIME are not simply seeing teams playing matches; they are seeing athletes with individual identities, measurable performances and stories that can be followed throughout a season. Every touchdown, interception, rating and breakout performance creates another opportunity to market the athletes and deepen the connection between players, supporters and brands.

That is why Series XV could become an important season for the league. SHOWTIME has already built a dedicated home for the competition at Showtime Arena, while its digital platform now gives supporters access to results, statistics, player ratings, play-by-play information, standings and other parts of the competition from beyond the venue.

Week One demonstrated what can happen when those pieces come together.

There were 137 combined points across the three official final scores, two enormous statement victories, one hard-fought contest and four perfect individual ratings. More importantly, there are already personalities and performances for supporters to follow into Week Two.

For the Knights, the question is whether Mafe and company can maintain the ruthless standards of their championship season. For the Rebels, their 56-point opening performance has provided an early indication of their attacking potential. For the Raptors, an opening victory provides something valuable to build upon. Delta Braves, Cross River Ikan Sports and Lagos Greenbacks now have an opportunity to respond.

One week cannot define a season, but it can certainly introduce it.

SHOWTIME Bowl Series XV has introduced itself with points, personalities and perfect 10s — and if Week One is the opening act, there is already plenty to watch when the action returns to Showtime Arena.

Continue Reading

Trending