Hitachi And State Bank Of India Create Digital Payment Platform

The regional subsidiary of the Japanese conglomerate Hitachi and the State Bank of India (SBI) have started joint development of a platform for digital payments using POS solutions and a mass network across the country.

Hitachi Payments is investing in a 26% stake in the joint venture SBI Payment Services, according to a press release. The technology giant uses the company’s extensive experience in big data analysis and in the development of artificial intelligence for the release of Lumada, IT platform for Indian payment system.

Also in July, it became known that the Hitachi technology conglomerate and telecommunications giant KDDI are exploring the possibilities of a blockchain system that will allow making daily payments using fingerprints to sign transactions.  Last year, the company also announced the development of a blockchain-based platform for supply control and order and account management.

In India, the blockchain sphere is rapidly developing: in September, it became known that the national stock exchange of India (NSE) is testing the blockchain platform developed by Elemental Labs, and Dell announced plans to use the blockchain to launch new products in the country. Also in India, several government agencies have already started to use the blockchain platform, which provides a digital way to identify citizens, greatly simplifying this process.

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