Hitachi Payment Services has made a strategic minority investment in Spydra Technologies, to develop and introduce offerings in the domains of Web 3.0, Central Bank Digital Currency (CBDC) and blockchain technology.

"Spydra’s extensive expertise in enterprise blockchain solutions aligns with Hitachi Payment Services’ commitment to drive innovation in digital payments through groundbreaking technologies," Hitachi said in its statement. 

The investment in Spydra is part of the Hitachi Payments Accelerator (HPX) Program, an initiative aimed at collaborating with fintech startups through partnerships and investments to meet the evolving needs of businesses, merchants and customers.  

Through this partnership, Hitachi Payment Services aims to integrate blockchain-powered capabilities into its payment infrastructure, to develop payment solutions, improve payment efficiency, enhance security and reduce fraud. Furthermore, it will work towards addressing the challenges associated with cross-border payments, leveraging the potential of CBDC implementation for optimizing payments, while reducing costs and enabling instant settlements.  

Commenting on the development, Anuj Khosla, chief executive officer – digital business, Hitachi Payment Services, said, “By leveraging Spydra’s blockchain and CBDC capabilities, we are well-positioned to develop secure and cutting-edge digital payment solutions that empower our customers to thrive in an evolving digital landscape. Through the HPX Program, we aim to collaborate with disruptors in the fintech and payments segment, driving the next phase of growth and innovation in digital payments.” 

The Hitachi Payments Accelerator (HPX) programme will identify and mentor fintech startups in domains such as ERP/billing, segmented payment solutions, embedded finance, issuance, payments compliance, banking as a service, AI/Gen AI, core banking, Web 3.0/CBDC and more.