HYDERABAD: T-Hub, India’s largest incubator for startups, announced the launch of the Fintech Accelerator programme as well as the txnnxt innovation hub of the National Payments Corporation of India (NPCI) at its premises here on Tuesday.
For the first edition of the programme, T-Hub has partnered with DST (Department of Science and Technology) and NPCI, the umbrella organisation for retail payments systems in India.
The Fintech Accelerator programme, presented by DST as per its NIDHI (National Initiative for Developing and Harnessing Innovations) acceleration scheme, will be executed by T-Hub and NPCI to bring in scale-up opportunities for fintech startups with products and services for the digital payments sector.
T-Hub said that it would help NPCI source innovative solutions that could help national-level payment platforms become more efficient. Experts from NPCI will organise seminars, workshops, mentoring sessions, and community events with a focus on training startups on product development in the fintech domain.
Ravi Narayan, CEO, T-Hub, said, “The fintech space is expanding rapidly, and the digital payments segment in India is expected to reach $135.2 billion in 2023 from $64.8 billion this year. To fuel this growth, we will need more disruptive solutions for the sector and promote these innovations to corporates.”