Banking News

Hitachi Payment Services completes acquisition of Writer Corporation’s Cash Management Business


Hitachi Payment Services on Monday said it has completed the acquisition of Writer Corporation’s cash management business and renamed it as Hitachi Cash Management Services in line with the Japanese company’s single brand identity.

Industry veteran Anup Neogi will be the new managing director and chief executive officer of Hitachi Cash Management Services, the company said in a statement on Monday.

Hitachi Cash Management Services would be a wholly owned subsidiary of Hitachi Payment Services, an end-to-end payments and commerce solutions provider. This acquisition will enhance Hitachi Payment Services’ market position as a holistic provider of payments and commerce solutions.

Sumil Vikamsey, managing director and CEO, cash business at Hitachi Payment Services, said, “Anup’s exceptional career trajectory and extensive experience in the cash management space makes him an exemplary leader, poised to steer the company towards new heights of success.”

“I am delighted to lead Hitachi Cash Management Services during this dynamic phase of growth and innovation in the payments space,” said Neogi.

Hitachi Cash Management Services would offer ATM Cash Replenishment Services to financial institutions and Retail Cash Management (RCM) services to retail outlets. It has a network of nearly 40,000 touchpoints including ATMs and retail outlets across 1,500 locations in 25 states.


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