NPCI and Meesho Among Time’s 100 Most Influential Companies 2023, Indian Firms Making Waves

Two Indian companies, National Payments Corporation of India (NPCI) and Meesho, were featured timeThe list of the 100 most influential companies for 2023 was released on Thursday. Additionally, Polygon Labs, which was originally founded as Matic Network by four Indians, finds itself mentioned in the list.

Launched in 2008 by the Reserve Bank of India (RBI) and the Indian Bank Association (IBA), NPCI has played a huge role in the adoption of digital payments in the country.

“With smartphone and internet usage on the rise in India, NPCI launched the United Payments Interface (UPI), which allows instant money transfers via mobile apps and QR codes, bringing digital payments to nearly 300 million users, replacing debit and credit cards and enabling the growth of commerce. electronics in a country that has long clung to cash. time He said about the company.

Following the domestic success, NPCI is expanding internationally with several countries, including Singapore and the United Arab Emirates, now accepting UPI payments.

Meesho shopping app was launched in the year 2015 by Vidit Aatrey and Sanjeev Barnwal and is headquartered in Bangalore, Karnataka. The platform charges no commission to sellers, which it says enables it to sell 60 percent of its products for less than $4.

“But the road to online shopping dominance will not be easy: while it expects to reach profitability in the current fiscal year, it will have to overcome challenges such as increased competition from other companies,” time He said.

The list also included Polygon Labs, formerly known as Matic Network. It was founded in 2017 by four Mumbai-based software engineers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. Rebranded to Polygon in February 2021.

The company aims to create a multi-chain blockchain system compatible with Ethereum. As with Ethereum, it uses a proof-of-stake consensus mechanism to process on-chain transactions.

“Polygon Labs is pushing blockchain into the mainstream, enabling companies like Starbucks, Nike, and Meta to build more secure apps using a distributed record-keeping mechanism that is revolutionizing the way we keep track of what we own — from coins and investments to event tickets.” time Wrote about the company.

Some of the other companies found mentioned on the list are chipmaker Nvidia, Elon Musk’s SpaceX, Sam Altman’s OpenAI, shoe company Crocs, fast food chain Taco Bell, EV maker BYD, luxury fashion brand LVMH and defense contractor Lockheed Martin.