Digital Technology

Hitachi’s India operations are gaining momentum as the Japanese conglomerate deepens its presence across rail transportation, energy systems and digital payments infrastructure. Backed by strong public-sector spending and rising private investment, the company is aligning its portfolio with India’s long-term development priorities. From high-speed rail projects and grid modernization to cashless transaction platforms, Hitachi is positioning itself as a critical technology partner in the country’s growth story.

The Employees’ Provident Fund Organisation is preparing to enable fund withdrawals through the Unified Payments Interface, a move that could significantly streamline access to retirement savings for millions of subscribers. Expected to be rolled out by April 2026, the initiative reflects the government’s broader push to modernize public financial infrastructure and improve service delivery. By integrating UPI into its systems, EPFO aims to reduce processing times, enhance transparency, and minimize reliance on traditional banking channels.

The Employees’ Provident Fund Organisation (EPFO) is set to introduce a Unified Payments Interface (UPI)-enabled withdrawal mechanism by April, marking a pivotal upgrade in the delivery of retirement-related financial services. The initiative aims to significantly reduce settlement timelines, enhance user convenience, and modernise the way subscribers access their provident fund savings. By leveraging India’s widely adopted digital payments infrastructure, EPFO seeks to streamline fund disbursement, minimise procedural bottlenecks, and strengthen transparency.

Paytm has witnessed a notable uptick in shareholding from both foreign portfolio investors (FPIs) and domestic institutional investors, signaling renewed confidence in the fintech giant’s growth trajectory. Analysts attribute this trend to improving operational performance, strategic expansions, and positive market sentiment surrounding digital payments and financial services in India. FPIs and domestic investors have collectively increased their holdings, reflecting optimism about long-term value creation and regulatory stability.

Digital payments major PhonePe, in partnership with HDFC Bank, has introduced a co-branded credit card designed to reward everyday consumer spending. The offering seeks to combine PhonePe’s extensive digital ecosystem with HDFC Bank’s credit expertise, targeting users who increasingly rely on cashless transactions for routine purchases. With incentives linked to daily categories such as groceries, fuel and utility payments, the card reflects the evolving preferences of digitally savvy consumers.

The Indian government is intensifying efforts to expand the Unified Payments Interface (UPI) internationally, positioning the platform as a global benchmark for real-time digital payments. Building on its domestic success, UPI’s overseas rollout aims to facilitate seamless cross-border transactions, support the Indian diaspora and strengthen India’s digital public infrastructure exports. The initiative reflects a broader strategy to enhance financial inclusion, reduce transaction costs and increase the global acceptance of Indian payment systems.

PayU, a leading digital payments company, reported a narrowed net loss of Rs 248 crore for FY25, reflecting improved operational efficiency and controlled expenditure. The company’s revenue growth, driven by increased merchant acquisition and higher transaction volumes, contributed to the reduction in losses compared to the previous fiscal year. Analysts note that PayU’s focus on streamlining cost structures, investing in technology, and expanding into high-growth segments such as BNPL (Buy Now, Pay Later) and cross-border payments is enhancing its path toward profitability.

The Reserve Bank of India (RBI) has projected that the Unified Payments Interface (UPI) user base will double to 1 billion in the near future, reflecting rapid digital payments adoption across India. This growth is driven by increased smartphone penetration, internet accessibility, and a supportive regulatory framework promoting cashless transactions. Analysts highlight that UPI’s scalability, interoperability, and convenience have made it a preferred choice for consumers, merchants, and businesses alike.

Digital payments major PhonePe has introduced PhonePe Bolt, a new solution designed to enable faster and more secure card transactions using Visa and Mastercard networks. The initiative aims to strengthen PhonePe’s payment infrastructure while enhancing user trust and transaction reliability in a rapidly evolving fintech landscape. By integrating advanced security protocols with global card networks, Bolt seeks to reduce payment friction for consumers and merchants alike.

Digital payments platform QuiD has appointed Bhavesh Gupta, former President of Paytm, to its executive leadership team, signaling a strategic push to expand its footprint in India’s competitive fintech ecosystem. Gupta brings extensive experience in payments, digital wallets, and financial technology innovation, having played a pivotal role in scaling Paytm’s consumer and merchant offerings. QuiD aims to leverage his expertise to accelerate product development, enhance user acquisition, and strengthen partnerships with financial institutions.