new banking licences in india, page-42

Talk of Hitachi deal being between $250-500m in this article.
Description of Prizm below is near identical to TSN.

http://letstalkpayments.com/hitachis-fintech-crusade-buys-indian-firm-prizm-payments/

In one of its biggest strategic investments in recent years, Japanese engineering and electronics maker Hitachi Ltd. has acquired a major stake in Chennai based Prizm payments. Winvest Holdings (India) Private Limited, Sequoia Capital, Axis Bank and other minority shareholders will be selling their stake to Hitachi.

Hitachi had also recently acquired eBworz Berhad, a Malaysia headquartered financial IT solutions company. Prizm has a strong presence in the FinTech space in India with a revenue of $80 Mn (500 cr) annually. Hitachi’s acquisition of Prizm will help them in establishing a strong foothold in the field of payments. Hitachi is also pretty keen on earning a bigger place in the booming Indian technology and IT market. The deal value has not been disclosed but it could be in the range of $250 to $500 Mn.

Prizm payments was co-founded in the year 2008 by Raghu Nathan and Loney Antony. Since then the company has grown to become a leader in providing innovative financial services with over 10,000 ATMs and 52,400 POS devices under management. Recently Prizm payments partnered with Mswipe technologies and Axis bank to provide mPos service to merchants.

Solutions provided by Prizm:

ATM Services: Prizm offers its solutions to the service providers by which it will offer services to banking businesses that are not core to them and help them in the management of ATM network.

POS Services: Prizm acts as a transaction provider by offering its technology solutions to connect POS to a switch, connect to international and national networks and provide users with back office tools for management of networks.

Transaction processing services: Prizm payments act as an exclusive TPS provider for Mswipe mobile POS terminals. Mswipe had come up with the hardware focusing on bringing the concept of peer to peer card based system to the Indian market, by offering an innovative service that will work not just with smartphones, but with the feature phones as well. Mswipe came together with Prizm Payments, and did an pilot rollout covering about 200 merchants by end of August, 2012.

Prizm Payments had got the distributorship for Mswipe’s device as well as the transaction processor and the infrastructure which connects into Visa and MasterCard. Mswipe gets its share for each hardware unit sold to the merchant, while Prizm earns a percentage share from whatever transaction fee is charged by the bank.