MOS Utility Limited has partnered with Bharat Co-operative Bank (Mumbai) Limited to facilitate digital payment services. The partnership is part of MOS Utility’s expansion into technology-led financial services and aims to support seamless and efficient digital payment services for merchants and businesses.
Through the association, MOS Utility will leverage its technology capabilities, payment infrastructure and merchant network to facilitate digital payments. The collaboration is aligned with the company’s focus on developing scalable payment solutions to address the changing needs of merchants and businesses.
Atish Shelar, Group CEO, MOS Utility Limited, said, “Our partnership with Bharat Co-operative Bank (Mumbai) Limited reflects our commitment to expanding the reach of digital payment services and helping businesses participate in the growing digital economy. This alliance brings together banking expertise and technology capabilities, creating opportunities to make digital payments more accessible and efficient for businesses. We see this collaboration as an important step towards addressing the growing needs of merchants and enabling them to participate more actively in India’s expanding digital economy.”
Chirag Shah, Chairman and Founder, MOS Utility Limited, said, “We are pleased to partner with Bharat Co-operative Bank (Mumbai) Limited as we work towards expanding access to digital payment solutions for businesses across India. We believe that collaborations between banks and fintech platforms are key to building a more connected payments ecosystem and enabling merchants to adopt digital solutions with greater ease and confidence. Through partnerships such as this, we aim to support greater merchant adoption of digital payments and contribute to a more connected and digitally enabled economy.”
As it expands its payment capabilities, MOS Utility is also focused on strengthening the security and reliability of its payment infrastructure. The company has adopted risk mitigation mechanisms and risk engines designed to identify, monitor and mitigate potential transaction risks. These capabilities are expected to support fraud prevention, improve transaction oversight and contribute to a more resilient digital payments environment.
The partnership comes as MOS Utility’s subsidiary, Samvriddhi Inclusive Growth Network Private Limited (SIGN), has secured in-principle approvals from the Reserve Bank of India (RBI) for its Payment Aggregator (PA) and Prepaid Payment Instrument (PPI) businesses. The approvals mark a milestone in the Group’s efforts to expand its payment capabilities and explore opportunities across the financial services landscape.
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