NTT Data Payments Services eyes top slot, scouting more acquisitions

economictimes.indiatimes.com:

NTT Data Payments Services India, which has grown through a clutch of acquisitions including that of Atom Technologies, is keen to do more such deals as it seeks to become a top-five player in the next few days. The domestic arm of the Japanese tech major last September received in-principle approval from the Reserve Bank for a payment aggregator licence and is today among the top ten in this already cluttered space.

It has an annual transaction value of Rs 150,000 crore and a volume of over 10 crore transactions and caters to more than 6 million merchants across the country in sectors such as education, government, retail, BFSI, healthcare, and share broking among others. It is an end-to-end payment services company offering a range of payment solutions through online and offline platforms via points of sale machines, payment gateway, interactive voice response (IVR), and mobile applications, wallets, BNPL, QR codes, and white-labeled solutions.

«We're among the top 10 payments services providers here now and are working on to be among the top five by 2025. To achieve this position we are ready to continue with our acquisitions strategy.

This is also part of the group's global strategy of becoming the largest in the APAC region by 2030,» Rahul Jain, the chief financial officer and the India spokesman, told PTI here. Jain said globally also the company has been into aggressive acquisitions (having completed more than 100 in the past 15 years) and more than 15 since 2010 here.

Since its takeover of Atom, originally promoted by Dewang Neralla, in 2019, they've grown over 30 per cent here. Recently, the company raised Rs 90 crore from the parent NTT Data Corporation, a USD 30 billion giant, to push its ambitious growth