New Delhi [India], January 19 (ANI/SRV): NPST, a leading FinTech platform, extends its payment horizon with an eye on hardware security market and collaborates with UTIMACO to explore Indian fintech market with its Hardware Security Module (HSM). NPST (Network People Services Technologies Ltd) a leading fintech solution provider, joined hands with UTIMACO to tap new opportunities around Hardware Security Modules (HSM) in the Indian fintech market. UTIMACO, the world's leading HSM manufacturer, is geared to expand its India footprints and enter the Indian digital payment ecosystem with on-premise as well as cloud-based solutions in association with NPST.
NPST is a key Technology Service Provider (TSP) to successfully integrate UPI ecosystem with UTIMACO HSM. This collaboration will help to reimagine and strengthen the entire digital payment ecosystem by raising the transaction's security standards. A payment HSM is a hardened, tamper-resistant hardware device with a strong use case in retail banking industry. It provides high-security levels for cryptographic keys and customer PINs used during the encryption and decryption of UPI PIN for issuer transactions.
Every day the number of transactions are growing rapidly, and so does the risk of data being compromised. Therefore, HSM is the need of the hour within the digital payment ecosystem. HSMs are a must for securing the end-to-end transactions and it seems that most of the payment applications now include HSM under their technical architecture.
HSM provides the highest level of data protection at hardware level, whether data is at rest or in motion or in use, versus other application and/or cloud-based data protection methods.
A globally certified HSM not only guarantees secure and proficient integration with the existing business workflows but also offers legal and regulatory compliance for the trust of buyers and system evaluators. Common Criteria (CC) is a well-recognized certification and helps in choosing appropriate HSM. NPST along with UTIMACO has completed all the industry compliance requirement for successful deployment of HSM product and services in UPI ecosystem for their clients. In the long run, NPST seeks to render various services over HSM platform.
As we all know that we are in the midst of 4th industry revolution and India is taking lead with unique value proposition towards Digital Payment via UPI where clients are interested to have end to end complied and highly secured payment solution, UTIMACO & NPST provides a unique value proposition through this impactful association.
"In the overall technology stack of payment processing, we intend to create our presence in the complete value chain. Collaboration with UTIMACO will open up new avenues for NPST in the security domain which has long term business impact, creating another vertical for innovation and business opportunities" Deepak Chand Thakur, Co-founder - NPST.
UTIMACO is a global platform provider of trusted Cybersecurity and Compliance solutions and services headquarters in Aachen (Germany) and Campbell, CA (USA). It develops on-premises and cloud-based hardware security modules, solutions for key management, data protection, and identity management as well as data intelligence solutions for regulated critical infrastructures and Public Warning Systems. UTIMACO is one of the world's leading manufacturers in its key market segments. For more information, visit utimaco.com
Network People Services Technologies Limited is in the business of providing Digital Payments solutions to banks, financial institutions, and Merchants. NPST is an authorized Merchant Payment Service Provider (TPAP), approved by NPCI, acquiring merchants, and providing payment applications to users across various segments. They also serve as Fintech partners to banks and financial institutes operating as Technology Service Providers (TSP), providing a certified digital payment solution including Mobile Banking, IMPS, Bhim UPI, and Wallet platform. For more information, visit npstx.com/about-us/.
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