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Payments General

Hitachi acquires Prizm Payments

Wednesday 27 November 2013 | 12:23 PM CET

Japanese engineering and electronics provider Hitachi has acquired a major stake in Indian payment services provider Prizm Payments. Also, Winvest Holdings (India), Sequoia Capital, Axis Bank and other minority shareholders will be selling their stake to Hitachi.

Under the terms of the deal, Hitachi’s acquisition of Prizm will enable them in establishing a foothold in the field of payments. The deal value has not been disclosed.

Prizm Payments was co-founded in the year 2008 and provides financial services with 10,000 ATMs and 52,400 POS devices under management.

Recently, Prizm Payments has partnered with Mswipe Technologies and financial institution Axis bank to provide mPOS service to merchants.

More: Link
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