NPCI – United Payment Interface (UPI) Audit

Unified Payments Interface (UPI) is an instant real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate the inter-bank transactions. The interface is regulated by the Reserve Bank of India (RBI) and works by instantly transferring funds between two bank accounts on a mobile platform.

Banks need to think through their security strategies, governance models and predictive controls to build a secure UPI environment that ensures seamless user experience and at the same time balances security risks.

Requirements from Banks:

• Ensure security of UPI environment and interfacing systems
• Ensure security of identity on the mobile device
• Introduce new security tools to protect the changing business model
• Perform advanced and smart analytics for effective monitoring of security risks
• Ensure compliance with regulatory requirements and adoption of industry standards
• Maintain logs and security to help in forensics
• Ensure you have appropriate response processes in place so that you are able to act quickly in the event of an incident being discovered
• Share periodic knowledge/ security bulletins with customer