Home FinTech Hitachi Payment Services steps in as online payment aggregator after RBI approves its licence

Hitachi Payment Services steps in as online payment aggregator after RBI approves its licence

The authorisation will let Hitachi expand its digital solution range and incorporate user-friendly payment options

by The Founder
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Hitachi Payment Services on Thursday, announced that it received its final authorisation to embark as an online payment aggregator. The announcement came after Reserve Bank of India (RBI) approved its licence under the Payments and Settlement Systems Act, 2007.

This authorisation allows the company to broaden its range of digital solutions and services to include a full suite of advanced and user-friendly payment options. These options encompass UPI, Netbanking, Cards, and Wallets, alongside value-added services like EMI, Paylater, Buy Now Pay Later (BNPL), Link-Based payments, and merchant loyalty solutions.

Speaking on this approval, Anuj Khosla, Chief Executive Officer (CEO)- Digital Business, Hitachi Payment Services, stated, “Receiving the Payment Aggregator licence is an important milestone for us and we are grateful to the RBI for their trust and approval.”

He further added, “Receiving the licence is not just a validation of our capabilities, but a catalyst for us to bring innovative solutions and broaden our offerings. Our state-of-the-art platforms and end-to-end services coupled with our expanded capabilities, uniquely positions us to cater to the diverse needs of banks and finTechs, enhance merchant adoption and make digital payments more pervasive.”

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