Integrated payment solutions provider Hitachi Payment Services has announced the appointment of Sumil Vikamsey as its new Managing Director (MD), in addition to his responsibilities as the Chief Executive Officer (CEO)- Cash Business. 

He will also be inducted into the company’s board effective April 1, 2023.

Rustom Irani, who has been an integral part of the organisation since 2011 while holding various positions, including that of MD & CEO, has decided to retire as MD effective March 31, 2023 and will continue to be associated with Hitachi Payment Services as an advisor. 

Vikamsey’s tenure at Hitachi Payments began in early 2010, and since then, he has been an important part of the company's growth journey and has led functions spanning Finance, Strategy & Development, Analytics, White Label ATM programme and allied business domains. He has played a crucial role in shaping Hitachi Payments' success story, cementing its position as a leading player in the payment industry, the company said in a statement.

Anuj Khosla will continue as CEO– Digital Business of Hitachi Payment Services.

“Sumil has been instrumental in shaping Hitachi Payments' growth from its early stages and will now be responsible to lead the company into its next phase of growth. He has played a pivotal role in leading the Cash Business for the company, strengthening its position as the market leader and successfully spearheading various strategic initiatives. People-centric by nature with an extensive knowledge of the payments domain, Sumil’s strengths give the company an added leverage,” said Loney Antony, Vice Chairman, Hitachi Payment Services.

A 100% subsidiary of Hitachi Ltd., Hitachi Payment Services is a payment solutions provider empowering financial institutions and payment aggregators with a comprehensive array of technology-led payment solutions. 

Vikamsey’s appointment comes as Hitachi Payments marks the completion of 15 years since formation. The company received the in-principle approval from RBI to start its payment aggregator business in financial year 22-23 and also started its first in-house cash management unit at Noida.