Hitachi Payment plans to buy Writer Corporation’s cash management business
By Gloria Mathias
Hitachi Payment Services, an India-based integrated payment solutions provider, has agreed to acquire the Cash Management Business of Writer Corporation, a multi-business enterprise.
In the Cash Management industry, Writer Safeguard – the Cash Management Business of Writer Corporation, has provided comprehensive cash services, including ATM cash replenishment and retail cash pick-up services to corporate clients in India.
The acquisition will transform Hitachi Payments’ market standing by integrating the cash management business into its overall service offerings, positioning it as a one-stop payments and commerce solutions provider.
Sumil Vikamsey, Managing Director & CEO Of Cash Business, Hitachi Payment Services, said, “The acquisition of the Cash Management Business of Writer Corporation will complement Hitachi Payments’ vision of becoming leading payments and commerce solutions provider, offering holistic, reliable and cost-effective solutions across the payments value chain. In line with our overall strategy, the deal creates opportunities for us to broaden our service offerings. It provides us with a unique position to drive growth and innovation in the Indian payments landscape.”
It will enable Hitachi Payments to provide comprehensive ATM services to financial institutions, while on the merchant side, it would complement Hitachi Payments’ digital offerings. The acquisition will further strengthen Hitachi Payments’ value proposition to merchants by offering a unified single platform for all merchant-related payment and commerce needs.
Dayle de Souza, Managing Director of Writer Business Services said, “Over the last two decades, Writer Corporation has created a rich legacy in the Cash Management Business through pioneering technologies, operational efficiencies, and superior risk management practices. We are confident that the transfer to Hitachi Payments will bring new possibilities for this business. We will continue to retain and grow the ATM Managed Services business as a part of the overall service portfolio to our corporate clients.”
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