Mumbai, 20 August, 2025: Utkarsh Small Finance Bank Limited (Utkarsh SFB), today announced a strategic partnership with Hitachi Payment Services, a leading end-to-end payments and commerce solutions provider, to upgrade its payment processing and debit card management. Through this partnership, Hitachi Payment Services will streamline the entire debit card lifecycle management for over 2.1 million+ cardholders of the bank.

With this upgrade, all ATM, POS and e-commerce transactions, supporting major schemes and payment networks like NFS, RuPay, DFS, Mastercard and JCB are now operational on a faster, secure and scalable platform. A transition of such a nature typically demands an extensive timeline, but Hitachi Payment Services together with Utkarsh Small Finance Bank successfully completed the migration in just two months, significantly faster than the industry norm of five to six months.

Payment Processing and Debit Card Management are critical aspects of modern banking, that enable real-time and uninterrupted access to banking services for customers. The new system strengthens the banks’ digital capabilities, enhances customer experience and ensures robust compliance with regulatory protocols.

Commenting on the development, Mr. Govind Singh, MD & CEO, Utkarsh SFB said, “At Utkarsh Small Finance Bank we believe that Technology is the core to seamless banking and we take significant efforts to enhance our customer’s banking experience.  We are pleased to announce our partnership with Hitachi Payment Services to deliver an advanced payment processing and debit card management system to our customers. This collaboration reflects our commitment to innovation, security and best-in-class digital banking services. Completing the transition in a record period of 2 months is truly commendable and it demonstrates Utkarsh Small Finance Bank’s Commitment and Hitachi Payment Services’ working as One team in this critical infrastructure upgrade.”

Mr. Sumil Vikamsey, MD & CEO – Cash Business, Hitachi Payment Services said, “We are delighted to have Utkarsh Small Finance Bank as one of our esteemed clients for our payment processing and debit card management solution. Our teams worked collaboratively to execute this critical migration in record time and ensured a smooth transition without any service disruptions. We remain committed to enabling our partners to deliver best-in-class banking services through cutting-edge technology. Together, we are not just processing payments but redefining reliability and scalability for India’s digital economy.”

About Utkarsh Small Finance Bank Limited:

Utkarsh Small Finance Bank Limited (USFBL), incorporated on April 30, 2016, is engaged in providing banking and financial services with a focus on providing financial services to the underserved and unserved sections. The Bank commenced its operations on January 23, 2017, pursuant to the small finance banking license granted by RBI on November 25, 2016. The Bank is headquartered at Varanasi, Uttar Pradesh. The Bank’s micro-banking activities are primarily focused in rural and semi-urban locations of the country while its other services are spread across the country.

The Bank offers deposits products in form of saving, current and term deposits to its customers accompanied by slew of digital services such as Internet and Mobile Banking, Digi On-Boarding, and an online account opening facility for clients, besides a range of ATMs and Micro ATMs for ease of transactions, amongst other. The Bank extends Joint Liability Group (JLG) loans to individuals, micro-banking business loans (MBBL), other retail asset loans including Micro, Small and Medium Enterprise (MSME) Loans, Housing Loans (HL), Commercial Vehicle Loans, Construction Equipment Loans among other lending products.

About Hitachi Payment Services:

Hitachi Payment Services is an end-to-end payments and commerce solutions provider empowering banks and fintechs with a comprehensive array of solutions focused on security, reliability and innovation. A pioneer in the Indian payments space, it has over 79,000 ATMs under management (including 38,000 Cash Recycling Machines and 11,700 White Label ATMs). In addition, it caters to over 3 Mn merchant touch points and processes 10 Mn transactions daily.

For more information on Hitachi Payment Services, please visit the company’s website at https://www.hitachi-payments.com/