Tata Communications in talks to acquire substantial stake in Prizm Payments Services

In order to expand its payment services business, Tata Communications is in talks to acquire considerable stake in Chennai-based Prizm Payments Services, as per some media reports. Tata Group Company for this has roped the Standard Chartered Bank’s investment banking arm to play the role of advisor.

Acquisition of substantial stake in Prizm Payments would aid Tata Communications’ subsidiary Tata Communications Banking Infra Solutions (TCBIL) in scaling up its business. Consequentially, Prism would be granted with the support of a large business conglomerate.

Tata Communications Banking InfraSolutions (TCBIL) is a BFSI-driven new setup wholly owned subsidiary by Tata Communications. TCBIL offers packaged banking solutions, referred to as 'Bank in a Box', like ATM services, card issuance and management, end-to-end POS acquiring, hosted core banking etc. TCBIL is strongly positioned for offering a robust Payment System for managing the dynamically changing expectations of the customers in the banking sector. TCBIL has begun the current financial year with an order book of $100 million.