With the new funds, company looks to enter newer segments
NTT DATA Payment Services India (erstwhile Atom Technologies Ltd.), a leading end-to-end payment service provider, has raised ₹90 crore ($12 million) from parent company NTT DATA Corporation to fund the next phase of growth, amidst the expanding digital payments landscape in India.
With the new funds, the company is looking to foray into newer segments such as the Bharat Bill Payment Operating Unit, apart from exploring potential Merger & Acquisition opportunities. The company is also initiating cross-border commerce, thereby, connecting India and global customers.
Dewang Neralla, CEO, NTT Data Payment Services, 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 and inorganic opportunities. The funds will only give us further impetus to our growth momentum. A further fund infusion will be decided based on the future opportunities.”
Shinichiro Nishikawa, Head of Global Payments & Services Division, NTT Data Corporation, said, “The capital infusion reinforces our firm’s commitment to the growth of digital payments in India. 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.”