Hitachi Installment Administrations Allowed Last Permit to Work as Online Installment Aggregator in India

HItachi Payment Services
Preeti Bali / 9:09 am / June 28, 2024

Hitachi Payment Services, a leading provider of end-to-end payment and commerce solutions in India, has secured the final authorization from the Reserve Bank of India (RBI) to function as an Online Payment Aggregator (PA). This official license, granted under the Payments and Settlement Systems Act of 2007, marks a significant milestone for the company.

Boosting Digital Payment Offerings

The RBI’s authorization empowers Hitachi Payment Services to significantly broaden its digital payment solutions. The company currently processes over 2.5 billion digital transactions annually for a vast network of prominent Indian banks and fintech firms.

Validation and Catalyst for Growth

“Getting the Installment Aggregator permit is a urgent second for us, and we offer our thanks to the RBI for their trust and endorsement,” said Anuj Khosla, CEO of the Computerized Business at Hitachi Installment Administrations. “This permit approves our capacities as well as fills in as an impetus to present creative arrangements and extend our contributions.”

Khosla further explained, “Our state of the art stages, complete start to finish administrations, and presently extended abilities position us exceptionally to take special care of the different necessities of banks and fintech organizations. This will at last upgrade vendor reception and add to the far and wide reception of computerized installments.”


Established Market Presence in India

Hitachi Installment Administrations, a completely claimed auxiliary of the Japanese combination Hitachi Ltd., flaunts a vigorous cross country installment foundation. The organization oversees north of 76,000 ATMs, including an organization of 27,500 Money Reusing Machines and 10,000 White Name ATMs. By and by, they serve multiple million dealer touchpoints and process north of 7 million computerized exchanges day to day.

Their complete contributions envelop UPI Arrangements, SoftPOS arrangements, Worth Added Administrations, simulated intelligence and ML-controlled arrangements, a cutting edge versatile based trader stage, UPI ATM on the Android stage, and Upgradable ATMs.

Expanding on areas of strength for this, Hitachi Installment Administrations laid out the HPX Gas pedal Program in 2023. This drive encourages organizations with fintech new companies across India, planning to speed up advancement in the computerized installments scene.

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