Hitachi Payments is a digital payment solutions provider and the payment aggregator licence will further augment its digital solutions stack with various online payment solutions such as UPI, netbanking, cards and wallets, the company said in a release.
The licence, the company said, “will enable its B2B customers to provide all digital payment products along with value added services such as EMI, paylater, BBPS and loyalty solutions to their merchants. Thus, effectively allowing them to offer one-stop digital payment services.”
India has been witnessing a significant rise in digital transactions in the last few years.
Hitachi Payments, which is a 100 per cent subsidiary of Hitachi Limited, currently powers over 1 billion digital transactions annually for some of the banks, payment aggregators and fintechs in the country.