Hitachi Payment Services has officially obtained authorization from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator under the Payments and Settlement Systems Act, 2007.
This regulatory approval allows Hitachi Payment Services to expand its digital solutions and service offerings significantly.
Anuj Khosla, Chief Executive Officer – Digital Business at Hitachi Payment Services, expressed, “The license marks a pivotal moment for us to introduce innovative solutions and broaden our service portfolio.” He emphasized that Hitachi Payment Services is now uniquely positioned to cater to diverse needs, enhance merchant adoption, and promote widespread adoption of digital payments.
The company’s expanded capabilities include a comprehensive suite of merchant-friendly payment options such as UPI, Netbanking, Cards, and Wallets.
Additionally, it offers value-added services like EMI, Paylater, Buy Now Pay Later (BNPL), Link Based payments, and loyalty solutions, aimed at enhancing customer engagement and satisfaction.
Hitachi Payment Services is known for its state-of-the-art platforms and end-to-end services, supporting over 2.5 billion digital transactions annually for leading banks and fintech companies in India. Its offerings also encompass advanced solutions like UPI Solutions, SoftPOS, AI & ML-based tools, and a next-gen mobile-based merchant platform.
The company has also launched initiatives like the HPX Accelerator Program in 2023, fostering collaboration with fintech startups to drive innovation in digital payments.
