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.
(Edited by : Pradeep Suresh)
First Published: Jan 19, 2019 8:14 PM IST