NTT Data has launched its Adaptis payment service in India.
The Japanese technology group is expanding its payments footprint following its acquisition of Malaysian payment processing company GHL Systems, as reported by Nikkei Asia.
Adaptis is already operational in Japan, Malaysia, Thailand, and the Philippines. Takeo Ueno, CEO of NTT Data’s Indian subsidiary, said the service in India will match the quality provided in Japan.
NTT Data initially entered the Indian payments sector in 2019 through the acquisition of Atom Technologies.
That entity now operates as NTT Data Payment Services India and serves several million merchants.
The company plans to integrate these existing operations with the newly launched Adaptis platform to further expand its presence in India.
By fiscal 2030, NTT Data expects its overseas electronic payment business to generate 150 billion yen (US$953 million) in annual revenue. This target represents a roughly threefold increase from its projected fiscal 2025 revenue.
The Indian payments market relies on a mix of credit cards, debit cards, and the Unified Payments Interface (UPI), a government-backed real-time payment system.
Worldpay data shows UPI accounted for 58% of in-store payments in 2024, while cash transactions fell to 15%.
Managing multiple payment options often requires retailers to maintain separate contracts. NTT Data aims to simplify this by handling payment intermediation services for retail and e-commerce vendors through a single platform.
The company sees significant growth potential in terminal deployment, as it bundles payment terminals with its payment services.
The market presents regulatory and competitive challenges for foreign entrants. The Indian government requires payment service providers to waive fees for UPI transactions to encourage adoption of the platform.
This sector also features established domestic and international competitors, including Razorpay, PayU, and Cashfree Payments.
NTT Data is targeting high-value transaction sectors to differentiate its offering, specifically focusing on tuition payments and securities trading.
Featured image credit: Edited by Fintech News Hong Kong, based on image by NTT Data Pay
This article first appeared on Fintech News Singapore
