Hitachi Payment Services Pvt Ltd (HPSPL) is investing Rs 1,250-1,500 crore in SBI Payment Services (SPS) for a 26% stake through subscription to new shares and a purchase of SBI’s stake, reports the Times of India. This values SPS for Rs 5,000-6,000 crore, according to the report. SPSPL will become a 74% stakeholder, as opposed to the previous 100%, after the HPSPL stake acquisition. In December, the CCI had approved HPSPL’s 26% acquisition in SBI Payment Services. Note that in October last year, HPSPL had entered (pdf) into a joint venture with SBI for a digital payment card acceptance platform for India. This JV would focus on card acceptance infrastructure, QR code payments, UPI, mass transit and ecommerce businesses. Hitachi's Prizm Payments acquisition HPSPL had already been providing ‘deployment, technology and management services’ for SBI’s card and digital payment services since 2011. In 2014, India’s Cabinet Committee on Economic Affairs approved Hitachi’s acquisition of ATM and POS company Prizm Payments Services, a deal which the CCEA said would bring Rs 1540 crore (around $250 million) into the country. Metrics SBI claims to have 22,500 branches and 59,000 ATMs, while YONO, its banking app claims to have over 1 crore downloads with over 300,000 logins per day. SBI also claims that over 1.6 million SBI accounts were opened on YONO, and peaked at 27,000 accounts per day. HPSPL, meanwhile, claims to have 55,000 ATMs, 12,000 CRMs and 850,000 POS devices (mobile POS included) under its management. SBI's alternate channels numbers For the quarter…
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