Mumbai: Payment service provider NTT DATA Payment Services India (earlier Atom Technologies) on Monday said it has received an in-principle approval from the Reserve Bank of India (RBI) for the Payment Aggregator (PA) license.
The company has an annual transaction value of Rs 150,000 crore and a volume of over 10 crore transactions across 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,” said Dewang Neralla, CEO of NTT DATA Payment Services.
“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,” said Neralla.
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.
NTT DATA operates CAFIS, Japan’s largest card payment processing network.
The company said it helps merchants to provide a seamless digital payment experience to customers, via both online and offline channels.
It caters to more than six million merchants across India, in sectors such as education, government, retail, BFSI and healthcare, among others.