Hitachi Payments to acquire Writer’s cash management business

Mumbai: Hitachi Payment Services has agreed to buy the cash management business of Writer Corporation, a multi-business enterprise.

Writer Safeguard, the cash management arm of the Writer group, has been managing cash logistics for banks and businesses. The firm replenishes ATM cash and offers retail cash pick-up services to corporate clients across India. The company has around 40,000 touchpoints, comprising ATMs and retail outlets spread across 25 states that it services with 10,000 employees, including security personnel.

With this strategic acquisition, Hitachi Payments will become a one-stop payments and commerce solutions provider. This transformation will enable Hitachi Payments to expand its ATM services to financial institutions while complementing its digital offerings on the merchant side.

“By providing a unified platform for all merchant-related payment and commerce needs, the acquisition will further enhance Hitachi Payments’ value proposition to merchants and drive digital adoption,” the company said in a statement.

Commenting on the development, Tatsuro Ueda, CEO of financial institutions business unit Hitachi, expressed the company’s commitment to delivering future-ready solutions that cater to the diverse needs of customers, particularly in India’s rapidly progressing digital landscape. Ueda said the acquisition will fortify Hitachi’s position in the Indian market and present a distinctive value proposition for the merchant ecosystem, facilitating increased digital acceptance.

Sumil Vikamsey, MD & CEO – cash business, Hitachi Payment Services, emphasized that the acquisition aligns with Hitachi Payments’ vision of becoming a leading payments and commerce solutions provider, offering holistic, reliable, and cost-effective solutions across the payments value chain. Vikamsey further stressed the potential for growth and innovation in India’s payments landscape through this strategic partnership.

Dayle de Souza, Managing Director, Writer Business Services, said his company’s legacy in the cash management business would open new possibilities under the new ownership. Writer Corporation plans to retain and expand its ATM Managed Services as part of the overall service portfolio for corporate clients.

In 2013, Japan’s Hitachi group acquired Prizm Payments, founded by Loney Antony, and renamed it as Hitachi Payments in India. This move enabled the company to offer a comprehensive range of payment solutions, including ATM Services, cash recycling machines, white label ATMs, POS solutions, toll & transit solutions, payment gateway solutions, SoftPOS, POS Value Added Services, and a next-gen mobile-based merchant platform.

Hitachi Payments currently manages a vast network of over 66,000 ATMs (including 27,500 Cash Recycling Machines) and 9,300 White Label ATMs. Additionally, it caters to over 3 million merchant touchpoints and processes more than 7 million digital transactions daily.