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Payments Council of India (PCI), a payments ecosystem industry body and a part of the Internet and Mobile Association of India (IAMAI) on Friday announced that it has re-elected Vishwas Patel as the chairman of PCI for another term. Praveena Rai, COO, National Payments Corporation of India (NPCI) and MN Srinivasu, Co-founder and Director at BillDesk have been appointed as co-chairs of its seven committees.

Patel is the executive director of Infibeam Avenues which operates e-billing payment gateway CCAvenue. Infibeam Avenues has been profitable since its inception and was India’s first Fintech listed on Indian stock exchanges.

Co-chair Rai comes with over two decades of extensive experience in the payments and banking domain. Srinivasu, the other co-chair, founded BillDesk twenty years ago along with Ajay Kaushal and Karthik Ganapathy. He led the company to becoming one of India’s one of the few profitable fintech companies in India. It recently got acquired by PayU.

Commenting on his appointment, Patel said, “I am pleased to share that since its inception, the PCI, as the representative body of the industry has relentlessly strived to help realize India’s vision for the payments ecosystem and will continue to do so in the coming years. Our council will initiate progressive measures for the sector by interacting frequently with the RBI and various stakeholders on various issues such as the key challenges faced by payment aggregators, card-on-file tokenization, KYC procedures, fraud prevention and customer awareness among others.”

The new executive council will work closely with the regulators, government ministries and all other stakeholders for the benefit of the industry in alignment with national objectives of financial inclusion and a digital economy.

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