MOS Utility Limited and Bharat Co-operative Bank (Mumbai) Limited Partner to Enable Digital Payments
Mumbai: MOS Utility Limited, an NSE-listed B2B2C digital fintech and ecommerce company, has partnered with Bharat Co-operative Bank (Mumbai) Limited to facilitate digital payment services.
The partnership comes as MOS Utility advances its expansion into technology-led financial services. Through its association with Bharat Co-operative Bank (Mumbai) Limited, MOS aims to facilitate seamless and efficient digital payment services by leveraging its technology capabilities, payment infrastructure, and merchant network. The collaboration aligns with the company’s broader focus on developing scalable payment solutions that address the changing needs of merchants and businesses.
Speaking on the partnership, Mr. 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.”
Commenting on the partnership, Chirag Shah, Chairman and Founder, MOS Utility Limited, shared, “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 MOS Utility expands its payment capabilities, the Group is focused on bolstering 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.
This partnership with Bharat Co-operative Bank (Mumbai) Limited comes at a time as its subsidiary, Samvriddhi Inclusive Growth Network Private Limited (SIGN), secures in-principle approvals from the Reserve Bank of India (RBI) for its Payment Aggregator (PA) and Prepaid Payment Instrument (PPI) businesses. These approvals mark an important milestone in the Group’s efforts to broaden its payment capabilities and explore new opportunities across the financial services landscape.
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