Strategic collaboration enables seamless debit card lifecycle management and powers all ATM, POS, and e-commerce transactions with next-gen technology
Utkarsh Small Finance Bank Limited (Utkarsh SFB) has announced a strategic partnership with Hitachi Payment Services, a leading provider of end-to-end payments and commerce solutions, to enhance its payment processing and debit card management systems. This upgrade marks a significant milestone in the bank’s digital transformation journey, benefiting over 2.1 million+ cardholders.
The collaboration enables Utkarsh SFB to operate all ATM, POS, and e-commerce transactions on a secure, scalable, and high-performance platform, supporting major payment networks including NFS, RuPay, DFS, Mastercard, and JCB. Remarkably, the entire migration was completed in just two months, far ahead of the industry average of five to six months.
“Technology is the core to seamless banking, and this partnership with Hitachi Payment Services reflects our commitment to innovation, security, and customer-centric digital services,” said Govind Singh, MD & CEO, Utkarsh SFB. “Completing the transition in a record period of 2 months is truly commendable and showcases the power of collaboration.”
Sumil Vikamsey, MD & CEO – Cash Business, Hitachi Payment Services, added, “We are proud to support Utkarsh SFB in this critical infrastructure upgrade. Our teams worked in unison to ensure a smooth and disruption-free migration. Together, we are redefining reliability and scalability for India’s digital economy.”
This partnership not only strengthens Utkarsh SFB’s digital capabilities but also ensures robust compliance with regulatory standards, positioning the bank for future growth in the rapidly evolving financial ecosystem.