What Hitachi Payment Services does

Hitachi Payment Services - a company with a vision to be a leading player of Secure and Innovative Payments, Mobile and Card Services. Hitachi Payment Services is a company created by integrating the operations and team of Integrated Maintenance and Services Private Limited (IMAS) and Sequoia Capital, one of the world’s leading Private Equity Firm as a financial investor. Prizm Payments is created to develop a self-sufficient mutually beneficial nation-wide modern payments ecosystem for financial institutions, retailers and service providers. If you need to access IMAS website please click here. With a presence in 70 Tier 1, Tier 2 and Tier 3 cities, Prizm Payments delivers services to 20 of the top corporate customers in the country. Managing over 3,500 Electronic Transaction Terminals (ATMs, Kiosks and other financial institution devices), a customer of Prizm Payments will not be more than 45 minutes away from one of its 43 spare part depots across the country and a rework centre in Chennai.

Name

Hitachi Payment Services

Legal name

Hitachi Payment Services Pvt. Ltd.

Website

http://www.hitachi-payments.com/

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hitachi Payment Services provides financial services and a payments ecosystem for financial institutions and retailers.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Collection Agencies (561440)

SIC

Finance Services (6199)

akta.pro primary industry

Payment Orchestration Platforms (FSAGABAA)

akta.pro secondary industries

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)

Keywords

• ATM managed services
• Payment gateway solutions
• Cash recycling technology
• Merchant acquiring services
• POS terminal solutions

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. ATM and CRM Managed Services: Ongoing managed services revenue from managing ATM networks and Cash Recycling Machines for banks. Includes cash replenishment, maintenance, monitoring, and operational services.
2. Cash Management Services: Revenue from ATM Cash Replenishment and Retail Cash Management services through Hitachi Cash Management Services subsidiary, operating across 40,000 touchpoints in 25 states.
3. POS and Digital Payment Processing: Transaction processing fees from POS terminals, payment gateway services, and digital payment solutions for merchants and financial institutions.
4. Hardware Sales: Sales of ATM machines, Cash Recycling Machines, POS terminals, and related payment hardware to banks and financial institutions.
5. Professional Services: Implementation, integration, and consulting services for payment system deployments and digital transformation projects.
6. Technology Licensing and Partnerships: Revenue generated through technology partnerships, accelerator program investments, and licensing of proprietary payment platforms.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Hitachi Payment Services provides end-to-end cash and digital payment infrastructure for banks, financial institutions, fintechs, and merchants in India. Its offering spans ATM managed services, Cash Recycling Machines (CRMs), White Label ATMs, POS terminals, payment gateway platforms, UPI solutions, merchant acquiring, and AI/ML-enabled fraud and analytics services. The company operates a multi-rail payment platform that supports both physical cash handling and digital payment processing across retail and institutional environments.

Product overview

Hitachi Payment Services is a comprehensive payments and commerce solutions provider offering end-to-end cash and digital payment infrastructure for banks, fintechs, and merchants in India. The portfolio spans two main categories: Cash Solutions (ATM Services, White Label ATMs via Hitachi Money Spot, Cash Recycling Machines, Upgradable ATMs, Android CRM, NCMC Card Dispenser Kiosk, Digital Banking Points, E-Surveillance) and Digital Solutions (POS Solutions, SoftPOS, Android POS Terminals, Unified Payment Device HPDx-OC360, Payment Gateway, UPI Solutions, Digital Payment Platform, Merchant Services, Card Issuance, Toll & Transit, Value Added Services, Back Office Services, AI & ML Solutions). The company operates through subsidiary Hitachi Cash Management Services and maintains the Hitachi Payments Accelerator (HPX) program for fintech innovation.

Differentiator

Problem solved

Functional benefit

Brands

• Hitachi Payments Accelerator (HPX): Corporate engagement program that empowers startups in the fintech and payments segment to develop innovative solutions, enhance customer experience, and build next-gen capabilities through mentorship and potential partnerships.
• HPDx-OC360

Products and services

• ATM Services Comprehensive ATM management services including cash replenishment, maintenance, monitoring, and operational support for bank and white-label ATM networks across India.
• White Label ATM (Hitachi Money Spot) Self-service ATM kiosks deployed under the Hitachi Money Spot brand enabling financial inclusion in underserved areas; the second-largest white-label ATM network in India.
• Cash Recycling Machines (CRM) Automated cash deposit and withdrawal machines that recycle deposited cash for subsequent withdrawals, offering 24x7 cash deposit with instant credit and reducing cash-in-transit costs.
• Upgradable ATM Future-ready ATM designed under Make in India initiative that can be upgraded to CRM capability in approximately 4 hours without expensive replacement, protecting bank investments.
• ATM Software Platforms Software infrastructure for ATM network management including monitoring, configuration, transaction processing, and security management.
• Digital Banking Point Self-service banking terminal offering comprehensive branch banking services in a compact format for enhanced accessibility.
• Android CRM India's first Android-based Cash Recycling Machine enabling digital banking universe with services like account opening, card transactions, face scan authentication, personal loans, insurance, and UPI integration.
• NCMC Card Dispenser Kiosk Self-service kiosk for instant issuance and activation of National Common Mobility Cards (NCMC), supporting real-time card personalization, top-up, recharge, and balance enquiry on Android platform.
• POS Solutions Point-of-sale terminal solutions including traditional, Android, and integrated POS systems for merchant payment acceptance across retail and institutional environments.
• SoftPOS Solution Software-based technology converting NFC-enabled smartphones into contactless payment acceptance devices, enabling merchants to accept digital payments without hardware POS terminals.
• Integrated POS Solutions Integrated point-of-sale solutions combining hardware and software for enterprise merchant payment acceptance and operations.
• Android POS Terminals Android-powered POS terminal hardware for merchants with app-based payment acceptance and value-added services.
• Digital Payment Platform Unified multi-rail payment platform powering end-to-end payment processing, merchant onboarding, and value-added services across payment channels.
• Payment Gateway Solutions Secure online payment processing with high reliability and industry-best success rates and uptime for payment aggregators and merchants.
• Merchant Services Complete merchant acquiring services including next-gen merchant platform, dedicated support, field services, and merchant lifecycle management.
• UPI Solutions Unified Payments Interface solutions enabling real-time digital payments, cardless cash transactions, and UPI-based merchant services for banks and fintechs.
• Card Issuance Solutions Card issuance and personalization solutions for banks and financial institutions enabling secure card production and distribution.
• AI Solutions Comprehensive AI/ML suite including fraud and risk management, analytics with churn prediction, self-service merchant portals, and KYC automation for banks and fintechs.
• Unified Payment Device (HPDx-OC360) Compact Android-powered payment acceptance device integrating card payments, NFC contactless, and QR code functionality in one device for merchants of all sizes.
• Toll & Transit Solutions Open-loop card-based ticketing service for metros based on NCMC (National Common Mobility Card) qSPARC 2.0 standards, enabling interoperability across transit modes and operators.
• Back Office Services Reconciliation, settlement, and operational support services for payment processing including dispute management and reporting.
• Hitachi Cash Management Services Subsidiary providing ATM Cash Replenishment and Retail Cash Management services across 40,000 touchpoints in 25 states, formed from the Writer Corporation cash management business acquisition.

Quantifiable outcome

• CRM technology delivers 20-25% cost savings for banks compared to traditional ATM deployment
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core and minor.

• IDEX BiometricscoreStrategic or Co-development Partner · 10 October 2025Partnership with IDEX Biometrics to launch India's first RuPay biometric payment card at Global Fintech Fest in Mumbai. The card uses IDEX Pay fingerprint authentication technology as a second-factor for digital transactions, following RBI's regulatory update permitting biometric authentication. The biometric card is currently undergoing pilot testing.
• Airtel Payments BankcoreStrategic or Co-development Partner · 10 October 2025Partnership with Airtel Payments Bank as the issuing bank for India's first RuPay biometric payment card. The collaboration aims to deliver secure, convenient, and inclusive payment solutions to Indian consumers through fingerprint authentication technology.
• Writer Corporation (Acquisition)coreOthers · 8 January 2024Completed acquisition of Writer Corporation's cash management business, renamed as Hitachi Cash Management Services. The new subsidiary offers ATM Cash Replenishment and Retail Cash Management services across 40,000 touchpoints in 25 states, expanding Hitachi's cash management capabilities.
• CMS Info SystemsminorOthersCMS Info Systems and Hitachi Payment Services are the two major cash management companies in India, often mentioned together in industry analysis reports. Both companies were affected by cash replenishment staff strikes in 2026.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CMS Info Systems: India's other leading ATM cash management and managed services operator. Directly competes with Hitachi Cash Management Services across the same bank customer base, with comparable nationwide touchpoints and parallel exposure to ATM replenishment operations.
• AGS Transact Technologies: Indian payments and ATM solutions company providing POS, payment processing, ATM managed services, and card issuance to banks and retailers. Closely overlaps with Hitachi's full payment stack, from ATMs to merchant acquiring.
• Euronet Worldwide: Global payments and ATM operator with presence in India across ATMs, POS, and money transfer. Several Hitachi executives (including Jayant D'Mello) previously led Euronet India, evidencing direct operational and product overlap.
• Prizm Payment Services: Indian ATM management and payment services company serving banks with ATM deployer and cash management services. Directly comparable to Hitachi's cash business; several Hitachi executives have prior Prizm backgrounds.

Broad incumbents

• NCR Corporation: Global ATM hardware and software incumbent that supplies many of the same banks Hitachi serves and competes in self-service banking, cash recycling, and digital banking platforms. Comparable via the ATM/CRM product portfolio though broader in geography and banking software.
• Diebold Nixdorf: Global provider of ATMs, cash recyclers, and banking software; competes with Hitachi on ATM hardware and ATM managed services globally and in India via its NCR/Diebold installed base banks.
• Fiserv: Global fintech incumbent providing merchant acquiring, payment gateway, and card services. Comparable via merchant services and payment processing, though at much larger scale and broader product set than Hitachi's India-centric offering.
• Visa Inc. Global payments network operating acceptance and issuance infrastructure in India. Several Hitachi executives (Anuj Khosla, Sreemoyee Mukherjee) previously led Visa India, evidencing deep market overlap on payment acceptance and digital issuance.

Emerging players

• Pine Labs: Indian merchant commerce and POS platform serving retailers with point-of-sale, SoftPOS, and payment-acceptance technology. Overlaps with Hitachi's Digital Solutions portfolio, especially POS, SoftPOS, and merchant services.
• M2P Fintech: India-focused fintech infrastructure provider offering APIs for payments, lending, and card issuance to banks and fintechs. Competes with Hitachi's payment gateway and digital payment platform on the API/orchestration layer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hitachi-payment-services-pvt-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hitachi Payment Services