Tech Mahindra to acquire Fidelity’s fintech subsidiary

15 Jan 2021 CW Staff

IT services major Tech Mahindra announced a professional services agreement with Fidelity National Information Services Inc (FIS) to acquire its subsidiary Payments Technology Services Ltd (PTSL) for Rs 66 crore.

Payments Technology Services is an Asia-based payments solutions provider focused on the banking and financial services industries.

Tech Mahindra will receive intellectual property and licences for two systems—Open Payment Framework (OPF) and Multi-Bank System (MBS).

Vivek Agarwal, Head Corporate Development and Global Head for Financial Services and Healthcare, Tech Mahindra, said that Banking Financial Services and Insurance (BFSI) was one of the fastest-growing industry segments for Tech Mahindra and the company has a strong presence across key regions including Europe, Asia Pacific and North America. The move is aligned to the company's "TechMNxt" character, aimed at strengthening global payments capabilities, offering clients end-to-end payments transformation services, and expanding this expertise to core banking and digital segments.

Lakshmanan Chidambaram, President, America Strategic Verticals, Tech Mahindra, claimed that the agreement would add to the company's capabilities in the space and enable it to develop and deliver next-generation solutions to customers.

Image Source

Infrastructure Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..