SBI, Hitachi Payments form JV for digital payment platform
29-October-2018
The State Bank of India (SBI) and Hitachi Payment Services (Hitachi Payments) on Monday entered into a joint venture (JV) to start a digital payment platform in India.
The SBI would have a majority stake in the partnership, a joint statement said.
"The joint venture will provide comprehensive suite of payment options to customers and merchants focussing on areas such as rollout of a nationwide card acceptance infrastructure, quick response (QR) code acceptance, Unified Payment Interface (UPI), mass transit sector and e-commerce businesses," it said.
It also noted that the partnership is subject to regulatory approvals.
Speaking about the JV, SBI Chairman Rajnish Kumar said: "At 2,500 PoS (Points of Sale) per million people, the penetration of payment acceptance infrastructure is still low. With this JV, we aim to grow the payment landscape by providing a frictionless modern digital payment platform to our customers."-IANS
- 0
-
-
-
-
Opposition Moves to Impeach Justice G R Swaminathan; Kanimozhi Cites Loss of Public Trust
Akhilesh Yadav Slams Centre, Yogi Govt Over Pollution And SIR Drive
PM, HM Set Out To Become Historians But Became ‘Distorians’: Jairam Ramesh
Under-16s Blocked From Social Media In Australia As Ban Comes Into Force
Armed Man Arrested At Vijay’s Puducherry Rally Venue, Security Tightened
