Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
28 February, 2020 23:40 IST
SBI, Hitachi launch joint venture to establish digital payments platform
Source: IRIS | 05 Mar, 2019, 04.17PM
Comments  |  Post Comment

State Bank of India (SBI) and Hitachi Payment Services (Hitachi Payment Services), a wholly owned subsidiary of Hitachi, announced  the launch of merchant acquiring joint venture, SBI Payment Services (SBIPSPL) in Mumbai, for establishing a state-of-the-art digital payments platform for India and other countries in the region.

This Joint Venture will facilitate expansion of the digital payments landscape in India by creating a state-of-the-art digital payments platform that will enable offering of innovative products to suit the requirement of all segment of merchants, leveraging the brand value and unparalleled distribution network of SBI and bringing Artificial Intelligence and other technological capabilities of Hitachi to SBI Payment Services (SBIPSPL).

Chairman, State Bank of India, (Q,N,C,F)* Rajnish Kumar said, ''Through this Joint Venture, we aim to maintain our position as the top acquirer in the merchant digital payments space by providing technologically superior and seamless services to our customers. We will also utilise business analytics to develop strategies to penetrate into hitherto untouched Indian towns and cities through merchant centric digital payments solutions.''

Shares of the bank gained Rs 3.05, or 1.12%, to settle at Rs 276.00. The total volume of shares traded was 2,331,903 at the BSE (Tuesday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
DIC India to sell Mumbai land for Rs 1.53 bn to Godrej Properties - 28-Feb-2020 16:51
DIC India to sell Mumbai land for Rs 1.53 bn to Godrej Properties - 28-Feb-2020 16:51
Pidilite Industries to acquire 70% stake in Tenax India - 28-Feb-2020 16:43
ONGC, Hindustan Petroleum buy 17.28% stake each in Petronet MHB - 28-Feb-2020 16:30
ONGC, Hindustan Petroleum buy 17.28% stake each in Petronet MHB - 28-Feb-2020 16:30
Suzlon Energy board approves proposal for restructuring of debt of Co - 28-Feb-2020 16:19
SC orders JP Associates to return to return pledged land to Jaypee - 27-Feb-2020 18:12
Thomas Cook India board approves buy-back of shares worth Rs 1.50 bn - 27-Feb-2020 18:07
TCS ranked no 1 in HFS Top 10 Retail and CPG Services report - 27-Feb-2020 17:56
CONCOR, Joint Stock Co of Russia ink MoU to promote cargo over INSTC - 27-Feb-2020 17:48
Adani Ports and Special Economic Zone incorporates overseas subsidiary - 27-Feb-2020 17:42
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer