SBI to sell 26% stake in payment services arm
After allotment of the shares, SBI shareholding in SPSPL will become 74 per cent from existing 100 per cent, the bank said in a statement.
- Jan 19, 2019,
- Updated Jan 19, 2019 10:31 PM IST
State Bank of India (SBI) Saturday said Hitachi Payment Services (HPY) has agreed to pick up 26 per cent stake in SBI Payment Services Private Limited (SPSPL), a card acceptance and digital payment platform.
After allotment of the shares, SBI shareholding in SPSPL will become 74 per cent from existing 100 per cent, the bank said in a statement.
The JV will provide various payment options to customers and merchants focusing on areas such as rollout of a nationwide card acceptance infrastructure, quick response (QR) code acceptance, Unified Payment Interface (UPI), mass transit sector and e-commerce businesses.
State Bank of India (SBI) Saturday said Hitachi Payment Services (HPY) has agreed to pick up 26 per cent stake in SBI Payment Services Private Limited (SPSPL), a card acceptance and digital payment platform.
After allotment of the shares, SBI shareholding in SPSPL will become 74 per cent from existing 100 per cent, the bank said in a statement.
The JV will provide various payment options to customers and merchants focusing on areas such as rollout of a nationwide card acceptance infrastructure, quick response (QR) code acceptance, Unified Payment Interface (UPI), mass transit sector and e-commerce businesses.