Hitachi Payment Services snaps up cash management business from Writer Corporation
Hitachi Payment Services, a payments and commerce solutions provider based in Mumbai, India, has completed its acquisition of Writer Corporation’s cash management business for an undisclosed sum.
Hitachi Payment Services acquires Writer Corp’s cash management business
The solutions provider, which offers a range of cash and digital payments solutions for banks, fintechs and merchant aggregators, plans to rebrand the newly-acquired business to Hitachi Cash Management Services, which will operate as a wholly-owned subsidiary.
Under its new identity, Hitachi Cash Management Services is set to facilitate ATM cash replenishment services and retail cash management (RCM) services across a network of 40,000 touchpoints for financial institutions and retail outlets respectively.
With this, Hitachi Payment Services expects the business to “enhance” its provision of payment and commerce solutions, which currently extends to ATM services, cash recycling machines, white-label ATMs, POS and softPOS solutions, payment gateway, and toll and transit solutions, among others.
Sumil Vikamsey, managing director and cash business CEO at Hitachi Payment Services, says that the business will enable it to deliver “comprehensive services to financial institutions and retail merchants, furthering our vision of becoming an end-to-end payments and commerce solutions provider”.
Anup Neogi appointed as managing director and CEO
In line with its latest deal, Hitachi Payment Services has appointed “industry veteran” Anup Neogi as the new managing director and CEO of the acquired business.
Vikamsey says Neogi boasts an “exceptional career trajectory” and “extensive experience” in the cash management sector, identifying him as “an exemplary leader”, poised to “steer the company towards new heights of success”.
Speaking on his new appointment, Neogi adds that the payments industry is currently undergoing a “dynamic phase of growth and innovation”, and claims that Hitachi Cash Management Services will champion a “customer-focused approach which is high on transparency, cost-effectiveness and value creation”.
