HomeSBI to sell 26% stake in payment services arm

SBI to sell 26% stake in payment services arm

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

Profile image

By PTI January 19, 2019, 9:23:42 PM IST (Updated)

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!