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Hitachi Payment Services completes acquisition of Writer Corporation's Cash Business
Mon, 8th Jan 2024

Hitachi Payment Services, a provider of end-to-end payments and commerce solutions in India, has announced the completion of its acquisition of Writer Corporation’s Cash Management Business.

The company has introduced the new identity, Hitachi Cash Management Services, for the entity and brings industry veteran Anup Neogi on board as its Managing Director and CEO.

According to the company, the transaction strengthens Hitachi Payment Services' standing in the market as a comprehensive provider of payments and commerce solutions, enhancing its value proposition to financial institutions and merchants alike.

The formation of this wholly owned subsidiary furthers the company's grand vision of becoming a fully integrated payments and commerce solutions provider.

Hitachi Cash Management Services aims to provide ATM Cash Replenishment services for Financial Institutions and Retail Cash Management Services (RCM) for retail outlets.

To accomplish this, the company boasts an extensive network of nearly 40,000 touchpoints, including ATMs and Retail, spanning 25 states across 1,500 locations. These end-to-end offerings are designed to meet and anticipate the needs of both financial institutions and retailers, assisting them in handling their daily cash requirements in a smooth and efficient way.

Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, commented on the development, "We are committed to providing solutions that effectively meet the varied needs of our customers."

"Through Hitachi Cash Management Services, we will be able to deliver comprehensive services to financial institutions and retail merchants, furthering our vision of becoming an end-to-end payments and commerce solutions provider."

He further welcomed Anup Neogi, stating, "We are also happy to introduce Anup Neogi as the Managing Director and CEO of Hitachi Cash Management Services. Anup's exceptional career trajectory and extensive experience in the Cash Management space makes him an exemplary leader, poised to steer the company towards new heights of success."

Upon his appointment, Anup Neogi, Managing Director & Chief Executive Officer, Hitachi Cash Management Services, said, "I am delighted to lead Hitachi Cash Management Services during this dynamic phase of growth and innovation in the payments space."

"We aim to provide best-in-class services to our customers, through a customer-focused approach which is high on transparency, cost-effectiveness and value creation. With our deep understanding of customer needs and technology-led approach, our offerings will enable customers to gain a competitive edge."

Hitachi Payment Services is a prominent player in the payment industry in India, offering a wide array of payment solutions. The company is committed to delivering exceptional customer experiences and driving financial inclusivity throughout India.