This acquisition will enhance Hitachi Payment Services’ market position as a holistic provider of payments and commerce solutions, further strengthening its value proposition to financial institutions and merchants.
Mumbai, January 8, 2024: Hitachi Payment Services, India’s leading end-to-end payments and commerce solutions provider, today announced that it has completed its acquisition of Writer Corporation’s Cash Management Business and unveiled its new name – Hitachi Cash Management Services, in line with Hitachi’s single brand identity. Hitachi Cash Management Services Pvt. Ltd. would be a wholly owned subsidiary of Hitachi Payment Services Pvt. Ltd.
This acquisition will enhance Hitachi Payment Services’ market position as a holistic provider of payments and commerce solutions, further strengthening its value proposition to financial institutions and merchants.
Hitachi Cash Management Services would offer ATM cash replenishment services for financial institutions and retail cash management services (RCM) for retail outlets. With a strong network of close to 40,000 touchpoints, including ATMs and retail, spanning 25 states and 1,500 locations, Hitachi Cash Management Services’ end-to-end offerings are tailored to meet the needs of financial institutions and retailers, helping them manage their day-to-day cash-related requirements in a seamless and efficient manner.
Sumil Vikamsey, Managing Director and Chief Executive Officer, Cash Business, Hitachi Payment Services, said, “We are committed to providing solutions that effectively meet the varied needs of our customers. Through Hitachi Cash Management Services, we will be able to deliver comprehensive services to financial institutions and retail merchants, furthering our vision of becoming an end-to-end payments and commerce solutions provider.”
“We are also happy to introduce Anup Neogi as the Managing Director and CEO of Hitachi Cash Management Services. Anup’s exceptional career trajectory and extensive experience in the cash management space make him an exemplary leader, poised to steer the company towards new heights of success.”
“I am delighted to lead Hitachi Cash Management Services during this dynamic phase of growth and innovation in the payments space. We aim to provide best-in-class services to our customers through a customer-focused approach that is high on transparency, cost-effectiveness, and value creation. With our deep understanding of customer needs and technology-led approach, our offerings will enable customers to gain a competitive edge,” said Anup Neogi, Managing Director and Chief Executive Officer, Hitachi Cash Management Services.
Hitachi Payment Services is a pioneer in the payment industry in India, offering a comprehensive range of payment solutions, including ATM services, cash recycling machines, white label ATMs, POS solutions, payment gateway solutions, toll and transit solutions, as well as innovative offerings such as HPY UPI Universe, SoftPOS, value-added services, AI and ML-based solutions, HPY Sigma, a next-gen mobile-based merchant platform, and HPY Neo, a UPI ATM. The company is committed to delivering exceptional customer experiences and driving financial inclusion across India.
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