Hitachi Payment Services named Sumil Vikamsey as MD

Sumil Vikamsey, who is currently the CEO of Cash Business at Hitachi Payment Services, has been appointed as the new Managing Director of the company. He will take over from Rustom Irani, who is retiring on March 30 after being associated with the organisation since 2011. Vikamsey will also be inducted into the company’s board from April 1, 2023. During his tenure at Hitachi Payment Services, Vikamsey has been responsible for various functions including finance, strategy, development, analytics, white-label ATM programme, and allied business domains. Irani will continue to be associated with the company as an advisor.

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About the Hitachi Payments:

Hitachi Payments, which has been in operation for 15 years, offers a complete range of payment solutions that cover various stages of payment processes. These include ATM services, cash recycling machines, white-label ATMs, POS solutions, toll and transit solutions, payment gateway solutions, and offerings such as SoftPOS, POS value-added services, and digital merchant onboarding. The company manages over 20 lakh PoS devices, including Mobile POS and QR, 64,500 ATMs (including 27,500 cash recycling machines), and 8,750 white-label ATMs. Recently, the Reserve Bank of India granted in-principle approval to the company to launch its payment aggregator business. Additionally, Hitachi Payments has set up its first in-house cash management unit in Noida.

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