Homeeconomy News

    SBI to sell 26% stake in payment services arm

    SBI to sell 26% stake in payment services arm

    SBI to sell 26% stake in payment services arm
    Profile image

    By PTI  IST (Updated)

    Mini

    After allotment of the shares, SBI shareholding in SPSPL will become 74 percent from existing 100 percent, the bank said in a statement.

    State Bank of India (SBI) Saturday said Hitachi Payment Services (HPY) has agreed to pick up 26 percent stake in SBI Payment Services Private Limited (SPSPL), a card acceptance and digital payment platform. After allotment of the shares, SBI shareholding in SPSPL will become 74 percent from existing 100 percent, the bank said in a statement.
    However, it did not disclose the financial details of the deal.
    The JV will provide various payment options to customers and merchants focusing on areas such as rollout of a nationwide card acceptance infrastructure, quick response (QR) code acceptance, Unified Payment Interface (UPI), mass transit sector and e-commerce businesses.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng