NTT DATA Payment Services India (erstwhile Atom Technologies Ltd.), a leading end-to-end payment service provider, has announced that it has raised Rs 900 million ($12 million) from its parent company NTT DATA Corporation in a major push for its ambitious plan for the next phase of growth, amidst expanding digital payments landscape in India.
Speaking on the investment round, Dewang Neralla, Chief Executive Officer, Not Data Payment Services India Ltd, said, “With India being one of the core markets for NTT Data, this capital infusion will further strengthen our payments’ business and is in tandem with our long-term growth strategy. As there is a huge untapped market, we will explore both organic as well as inorganic opportunities. The funds will only give us further impetus to our growth momentum. Further fund infusion will be decided based on the future opportunities.”
“The capital infusion reinforces our firm’s commitment to the growth of digital payments in India. With the conducive environment in the Indian market and seeing the quick adoption of digital payments channels, our confidence has grown manifold and gives us a fresh impetus for further investment as the need arises. Our vision for NTT DATA Payment Services India is to emerge as one of the top three Payment Service Providers in the country in the times to come through better services and superior products,” Shinichiro Nishikawa, Head of Global Payments & Services Division At Ntt Data Corporation added.
With the new funds, the company is looking to foray into newer segments such as Bharat Bill Payment Operating Unit, apart from exploring the potential Merger & Acquisition (M&A) opportunities. Leveraging the parent company’s capabilities, NTT DATA Payment Services India is also initiating cross-border commerce, thereby connecting India and global customers.