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SBI Payments Reviews

Gurugram, Haryana

4.0/ 5

1 review

SBI Payment Services Private Limited (SBI Payments) is a leading merchant acquiring and digital payment solutions provider in India. Incorporated on February 12, 2010, the company is headquartered in Mumbai, Maharashtra, operating from its corporate office at Urmi Estate in Lower Parel. It functions as a prominent joint venture between the State Bank of India (SBI), the nation's largest public sector bank, which holds a majority stake of 74%, and Hitachi Payment Services Private Limited (HPSPL), a wholly-owned subsidiary of Hitachi Limited, which owns the remaining 26% stake. The company is highly integrated with its parent bank, inheriting strong brand identity, strategic direction, and operational synergies. SBI Payments took over the merchant acquiring business from SBI in September 2018, establishing a robust digital footprint across the country. The company's primary business model revolves around deploying Point of Sale (PoS) terminals and digital payment acceptance setups at various merchant establishments, generating steady revenue through monthly device rentals and gross Merchant Discount Rates (MDR) on transactions. As a pivotal player in driving India's cashless and digital financial ecosystem, SBI Payments manages an expansive network consisting of over 37 lakh merchant payment touchpoints. By the end of December 2025, the company had installed over 17.55 lakh physical PoS terminals, commanding a market share of approximately 15% in an oligopolistic industry largely dominated by five major banking entities. Beyond standard physical card-swiping machines, the company offers an array of multi-mode acceptance capabilities including QR-based payments, Unified Payments Interface (UPI) P2M transactions, Near Field Communication (NFC)-enabled tap solutions, BHIM Aadhaar SBI, and specialized electronic toll and transit solutions. It has also expanded into soft PoS capabilities via the YONO SBI Merchant Application, transforming mobile smartphones into digital payment terminals. Financially, SBI Payments operates as an active, unlisted private limited company with an authorized share capital of INR 100 crore. Its operating revenue for the financial year ending March 31, 2024, fell within the range of INR 1,500 crore to INR 1,750 crore. The company maintains a conservative capital structure with no long-term external debt, utilizing short-term working capital and overdraft facilities from SBI solely to manage merchant settlements on a T+1 basis. Management is overseen by a 9-member Board of Directors led by Chairman Ashwini Kumar Tewari, who also serves as the Managing Director of Corporate Banking and Subsidiaries at SBI, alongside MD & CEO Sujay Kumar Yadav. Backed by corporate scaling, SBI Payments continues to expand into urban, semi-urban, and rural markets, supporting the Digital India mission through high-volume, secure processing frameworks.