Hitachi Payment Services has appointed Sumil Vikamsey as its new managing director (MD), in addition to his responsibilities as the chief executive officer (CEO) of Cash Business. He will also be inducted into the company’s Board effective 1st April 2023.

The development came after Rustom Irani, the company's previous managing director (MD) decided to retire from his post.  Irani will continue to be associated with Hitachi Payment Services as an advisor. Rustom has been an integral part of the organization since 2011 while holding various positions, including that of MD and CEO.

Sumil’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 and development, analytics, white label ATM programme and allied business domains. The company has claimed that Sumil's wealth of experience and skills have played a crucial role in shaping Hitachi Payments' success story, cementing its position as a leading player in the payment industry.

Addressing the latest development, Loney Antony, Vice Chairman, of Hitachi Payment Services, said, “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 extensive knowledge of the payments domain, Sumil’s strengths give the company added leverage.”