Deepak Chand Thakur, Co-Founder and CEO of NPST, said cooperative banks are increasingly adopting enterprise grade digital banking and payments infrastructure through SaaS models rather than building systems internally.
Mumbai, 14th May 2026: India’s cooperative banking sector is increasingly turning to plug and play digital infrastructure as the economics of building modern banking and payments systems in house become harder to justify.
Network People Services Technologies Limited (NPST) has secured new mandates from three cooperative banks for its Bank-in-a-Box platform, strengthening its recurring multi year revenue pipeline.
Under the agreements, one cooperative bank will deploy NPST’s acquiring switch along with Qynx, while the other two banks will implement Qynx as a standalone solution.
Qynx is NPST’s offline acquiring platform built to manage merchant payment acceptance infrastructure across QR payments, Soundbox deployment, device logistics, monitoring and field operations. The platform allows banks to enter offline merchant acquiring without building operational infrastructure independently.
The latest wins reflect a broader infrastructure shift in smaller banking institutions, where software subscription models are becoming a faster route to digital capability expansion.
Deepak Chand Thakur, Co-Founder and CEO, NPST, said, “India’s cooperative banking sector serves millions of customers, yet most lack access to modern digital banking and payments infrastructure as the economics of building it never worked in their favour. Bank-in-a-Box, a SaaS-based distribution model, puts an enterprise-grade platform in the hands of any cooperative bank, allowing them to deploy services in weeks and unlock new revenue streams.”
NPST’s Bank-in-a-Box platform operates as a full stack SaaS banking and payments infrastructure offering. It includes UPI, IMPS and Banking Connect processing, online and offline merchant acceptance, AI driven fraud monitoring and an omnichannel SuperApp offering more than 400 banking services.
The platform is positioned for banks seeking enterprise scale capabilities without the capital expenditure typically associated with building core payments infrastructure.
NPST, listed on both NSE and BSE, operates across payments technology, platform infrastructure and AI powered regulatory technology, serving banks, fintechs and financial institutions in India.
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