India-based Hitachi Payment Services has rolled out a financial inclusion business to redefine access to financial services for the underbanked and unbanked. Hitachi Payment Services has launched Hitachi Money Spot Plus to add an extension to its existing suite of services and further drive inclusive growth.

The list of services included in Hitachi Money Spot plus are Aadhaar Enabled Payment Services, Micro ATM Services, Domestic Money Transfers, Mobile & DTH Recharges, and Bill Payments. Leveraging a partner network for financial services For the initial launch, Hitachi Payment Services has partnered with YES BANK, demonstrating its commitment to collaborative efforts for financial inclusion. The partnership leverages YES BANK’s strong banking expertise and Hitachi Payment Services' extensive network and technology infrastructure to provide reliable and secure financial services to the underserved.

Hitachi Money Spot Plus offers inclusive financial services in Tier 3 to Tier 6 towns via a network of retailers called Hitachi Partners. Accessible through the app on Google Playstore, it provides a seamless one-stop platform, complementing the Hitachi Partners network for widespread accessibility. Commenting on the launch executives from Hitachi Payment Services said that the growth of internet penetration and financial literacy in India, especially in their rural communities, presents an urgent call for a resilient payment infrastructure that can keep pace with this rapid expansion.

Retailers and merchants are the last mile touchpoints, enabling easy access to finance for customers. Recognising this, they are extending their services to include financial inclusion initiatives. Also commenting on this news, officials from YES BANK said that they’ve partnered with Hitachi Payment Services to launch Hitachi Money Spot Plus as part of their commitment to promote financial inclusion.

This initiative is aimed at enabling financial transactions at hinterlands, focus on taking digital benefits to last mile in an assisted digital mode. What does Hitachi Payment Services do? Hitachi Payment Services is an end-to-end payments and commerce solutions provider enabling financial institutions, payment aggregators, and fintechs with a comprehensive array of solutions focused on security, reliability, and innovation. A pioneer in the Indian payments space, it has over 66,000 ATMs (including 27,500 Cash Recycling Machines) and 9,800 White Label ATMs under management.

In addition, it caters to over 3 million merchant touch points and processes over 10 million transactions daily. .