India Post, Nabard, 4 PSU banks part of two consortia vying for NUE licence

One group is led by top payment solutions firm Financial Software and Systems, the other by FIS, which provided tech solutions for merchants, banks, and capital markets firms globally

The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments.

A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of