According to reports, the National Payments Corporation of India (NPCI) disconnects all forms of retail payment services offered by C-Edge Technologies after the company allegedly came under a ransomware attack two days ago.

The Mumbai-based technology company provides payment services primarily to regional and cooperative banks; C-Edge is a joint venture between software giant TCS and State Bank of India.

NPCI says, “To prevent a larger impact on the payment ecosystem, NPCI has temporarily isolated C-Edge Technologies from accessing the retail payment systems operated by NPCI.”

As a result of this action, customers of all banks employing C-Edge Technologies will no longer be able to use the retail payment services offered by UPI, IMPS, and NPCI.

Established in December 2008, NPCI is a non-profit organization registered under Section 8 of the Companies Act, 2013, and was created by the Reserve Bank of India and the Indian Bankers Association. The organization is owned by a consortium of leading banks.

NPCI has established a separate company to bring its products to the global market; NPCI has received offers from countries in Asia, Africa, and the Middle East to develop payment infrastructure; internationalization of RuPay and the Unified Payment Interface (UPI) is a major focus of NPCI International Payments Ltd. NIPL) is a major focus of the company.

The overall volume impact will be less than 1 percent, but NPCI had to isolate its systems to ensure the larger banking ecosystem is safe. The restoration work has already started. The banks should come back online by tomorrow.

According to data from Tracxn, C-Edge Technologies posted operating revenue of Rs. 355 crore and net income of Rs. 85 crore in FY23. The company provides payment technology, core banking systems, and compliance solutions to banks.