NSDC Partners with Juspay to enhance Payment Solutions for Skill Development

2024-12-12 08:46:20 Education

December 12, 2024, New Delhi, India — National Skill Development Corporation (NSDC) has signed a Memorandum of Understanding (MoU) with Juspay Technologies, a leading payments technology provider, to enhance payment infrastructure and solutions for skill development initiatives across India.

The MoU was signed today at NSDC's headquarters by Shreshtha Gupta, CTO NSDC, and Ishan Sharma, Head, Business at Juspay, in presence of Ved Mani Tiwari, CEO NSDC and MD NSDC International, Rajesh Swaika, CFO NSDC and Malyada Goverdhan, Head - B2G Partnerships, Juspay. The partnership marks a significant step towards leveraging cutting-edge technology to streamline financial processes for NSDC's vast network of stakeholders, including training partners, candidates, and other ecosystem players.

Highlights of the Collaboration

As per the MoU, Juspay will provide a robust and scalable payment orchestration platform tailored to the needs of NSDC, enabling seamless transactions across various payment modes like UPI, credit/debit cards, wallets, and net banking. The integration will simplify payment experiences for millions of learners and training providers, ensuring both reliability and efficiency. Juspay's unified analytics and optimization tools will help NSDC gain actionable insights to enhance operational efficiency.

Speaking on the occasion, Ved Mani Tiwari, CEO NSDC and MD NSDC International said, "Our collaboration with Juspay represents a significant advancement in our commitment to enhancing the skill development ecosystem in India. By leveraging the unique payment solutions, we aim to streamline the financial processes for our stakeholders, making skill development more accessible and efficient. This collaboration will empower millions of learners and training providers, ensuring that our initiatives are not only impactful but also sustainable in the long run."

Vimal Kumar, CEO & Founder of Juspay, added: "We are proud to partner with NSDC in their mission to empower millions through skill development. NSDC's extensive payments infrastructure presents unique challenges, including the need for seamless integration across diverse platforms and ensuring secure and frictionless transactions at scale. At Juspay, we are committed to delivering a comprehensive solution that not only simplifies these challenges but also offers NSDC complete visibility and control over every financial transaction."

This partnership establishes a framework for collaboration that will not only enhance payment solutions but also promote financial inclusion within the skill development sector.

About NSDC

Giving boost to Indian Government Skill India Mission, NSDC, a nodal skill development agency, working under the Ministry of Skill Development & Entrepreneurship (MSDE), Government of India, is a unique Public Private Partnership (PPP) that aims to catalyze the creation of a large and quality vocational training ecosystem in India. Since inception, NSDC has trained over three crore people in different sectors through its collaboration with training partners pan India. NSDC has established 37 Sector Skill Councils (SSCs) and implements the Government's flagship skill development schemes such as Pradhan Mantri Kaushal Vikas Yojana (PMKVY), National Apprenticeship Promotion Scheme (NAPS), among others. NSDC also funds enterprises, companies and organizations that provide skill training. The organization enables private-sector capacity building in skill development by offering concessional loans, other innovative financial products, and strategic partnerships.

About Juspay

Headquartered in Bangalore, Juspay is a global payments infrastructure company that powers payments for leading enterprises, banks, and card schemes around the world. With over a decade of experience in digital payments, Juspay processes over 175 million transactions daily, exceeding an annualized total payment volume (TPV) of $670 billion while maintaining an exceptional reliability rate of 99.999%. Juspay offers a comprehensive product suite that includes seamless checkout experiences, orchestration, payouts, tokenization, offers, end-to-end reconciliation, unified analytics and more. By leveraging these solutions, Juspay empowers businesses to achieve superior conversion rates, reduce fraud, optimize costs, and deliver seamless customer experiences at scale.