The Payments Council of India, the representative body for India’s regulated non-bank payments industry, said it has approved the re-appointment of Vishwas Patel, joint MD, Infibeam Avenues Ltd (CCAvenue), as the Chairperson.

M N Srinivasu, co-founder and director, BillDesk has been re-appointed as the co-chairperson of the Payments Council of India, it said in a statement.

Nalin Bansal, chief of corporate fintech relationships and key initiatives, NPCI, has also been appointed as a Co-Chairperson, it added.

Commenting on his re-appointment as Chairperson, Patel said that India’s digital payments industry is entering a decisive phase where the focus will shift from scale to sustainable value creation.

"The next wave will be defined by deeper merchant integration, interoperable innovations, and advanced risk management frameworks," he added.

The statement noted that Patel will chair BBPOU Committee. BBPOUs are the system participants in the Bharat Bill Payment System (BBPS). A BBPOU may function either as a biller operating unit or a customer operating unit or both.

Rahul Chari, founder & CTO, PhonePe, will chair UPI Committee.