NTT DATA Payment Services Gets RBI’s Approval for Becoming Payment Aggregator in India
NTT DATA Payment Services India (erstwhile Atom Technologies Ltd.), a leading end-to-end payment service provider, has received an in-principle approval from the Reserve Bank of India (RBI) for the Payment Aggregator (PA) license.
Commenting on this development, Dewang Neralla, CEO of NTT DATA Payment Services, said, “We are delighted to have received the Payment Aggregator (PA) license, which will only add fresh impetus to our commitment to progressively grow digital payments in India. This significant development also brings us closer to our vision, that is, to develop NTT DATA Payment Services India as one of the top three payment service providers in the country through better services and superior products.”
Mr. Neralla further added, “We will continue to build safe, trusted, and innovative payment solutions for customers, with a focus to make digital payments viable and accessible for everyone, which is in line with the ‘Digital India’ vision.”
NTT DATA Payment Services India is part of NTT DATA Corporation, one of the globally top 10 IT service providers, headquartered in Japan. The NTT DATA Payments division group has a significant presence across Japan, Hong Kong, Singapore, Vietnam, and Malaysia. Amongst path breaking Payment infrastructures, NTT DATA operates CAFIS, Japan’s largest card payment processing network. The company has an annual transaction value of INR 150,000 crore and a volume of over 10 crore transactions across India. The company aids merchants to provide a seamless digital payment experience to customers, via both online and offline channels. The company caters to more than six million merchants across India in sectors such as education, government, retail, BFSI, healthcare, among others.