Hitachi Payment Services Granted Final RBI Authorisation as Online Payment Aggregator
This regulatory approval will allow the company to significantly expand its range of digital solutions and services. These will now encompass various payment options including UPI.
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NEW DELHI: Hitachi Payment Services announced on Thursday that it has received final authorisation from the Reserve Bank of India (RBI) to function as an online payment aggregator.
This regulatory approval will allow the company to significantly expand its range of digital solutions and services. These will now encompass various payment options including UPI, net banking, cards, and wallets, in addition to value-added services.
The company highlighted that these value-added services will include EMI, paylater, Buy Now Pay Later (BNPL), link-based payments, and loyalty solutions for merchants. Hitachi Payment Services processes over 2.5 billion digital transactions annually for some of India's foremost banks and fintech companies.