Hitachi Payments and the largest commercial Bank in the country State Bank of India (SBI) are establishing a joint venture to build a platform of digital payments.
Regional subsidiary of Japanese conglomerate Hitachi and the State Bank of India (SBI) began a collaborative development platform for digital payments with the use of POS solutions and a massive network across the country.
Hitachi invests Payments in a share of 26% in the joint venture SBI Payment Services, according to a press release. The tech giant uses big expertise in big data Analytics and in the development of artificial intelligence for release Lumada, it platform for Indian payment sector:
“In their joint venture, Hitachi will contribute to the digitization of financial services of India, by joining the platform for digital payments with the latest technology”
Hitachi Payments already controls more than 55 000 850 000 ATMs and devices at point of sale across India, SBI and more than 420 million customers and 6 million POS-terminals. The head of the Hitachi Toshiaki Higashihara added:
“Hitachi will continue to contribute to the development of digital payments in India by creating a platform of digital payments with the use of latest technologies and strong customer base SBI”
In July it became known that the tech conglomerate Hitachi and the telecommunications giant KDDI explore the possibilities of the blockchain system, which will make daily payments using fingerprints to sign transactions. Last year the company also announced the development of the platform based on blockchain for control of supply and order management and accounts.
In India is booming blockchain scope: in September it became known that the national stock exchange of India (NSE) tests developed by Elemential Labs blockchain platform, and Dell announced plans to use blockchain to launch new products in the country. Also in India, several government agencies have begun to use a blockchain-based platform that provides a digital method of identification of citizens, greatly simplifying the process.