State Bank of India sets up joint venture with Hitachi unit for digital payments

The JV will use business analytics to study how to penetrate unbanked towns.

State Bank of India (SBI) has tied up Hitachi Payment Services to launch a merchant acquiring joint venture called SBI Payment Services in Mumbai.

The joint venture will establish a digital payments platform that will will enable offering of innovative products for merchants. The paltform will also make use of business analytics to explore strategies of expanding into unbanked towns and cities with digital payment solutions.

"Hitachi's joint venture with SBI, will further contribute to the development of digital payments in India by building a state-of-the-art digital payments platform and leveraging SBI's robust customer network. This coincides with Hitachi's vision to improve people's lives by providing digital solutions in India and other countries," Toshiaki Higashihara, president & CEO of Hitachi, Ltd., Japan said in a statement.

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit