RBI Gives Final Nod To Hitachi Payment Services As Online Payment Aggregator

Hitachi Payment Services announced on Thursday that it has obtained the final authorisation from the Reserve Bank of India to function as an online payment aggregator.

This authorisation will allow the company to broaden its digital solutions and services to include various payment methods, such as UPI, net banking, cards, and wallets, in addition to value-added services, according to a statement by Hitachi Payment.

Value-added services include EMI, Buy-Now-Pay-Later, link-based payments and loyalty solutions to merchants.

The company handles more than 2.5 billion digital transactions each year for several of India's top banks and fintech companies.

(With inputs from PTI)