CAMS shines on getting authorisation to operate as online payment aggregator
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Computer Age Management Services is currently trading at Rs. 3181.90, up by 129.40 points or 4.24% from its previous closing of Rs. 3052.50 on the BSE.
The scrip opened at Rs. 3137.85 and has touched a high and low of Rs. 3220.00 and Rs. 3129.55 respectively. So far 48061 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3240.00 on 28-Feb-2024 and a 52 week low of Rs. 2007.50 on 25-Apr-2023.
Last one week high and low of the scrip stood at Rs. 3220.00 and Rs. 2977.95 respectively. The current market cap of the company is Rs. 15676.41 crore.
The Institutions and Non-Institutions held 73.68% and 26.32% stake in the company respectively.
The Reserve Bank of India (RBI) has granted authorisation to Computer Age Management Services (CAMS) to operate as an Online Payment Aggregator. The company received an in-principle authorisation from RBI in February 2023.
CAMSPAY, the payment business unit of the Company has been at the forefront of the payment solutions industry for the past 15 years, specializing in providing secure, seamless, and innovative payment services tailored specifically to the unique needs of the Banking, Financial Services, and Insurance (BFSI), and Education Technology (Ed-Tech) sectors. Its offerings, fortified over time, now include an expanded UPI autopay feature that has seen wide adoption by fintech channels and notable third-party applications.
In March 2024, CAMSPAY achieved a record-setting registration of more than a 1.2 million mandates for UPI Autopay, underlining the company’s growing influence in online Digital Payments Segment. The company’s collaboration with major Banks in the country and with the National Payments Corporation of India (NPCI) further enhances the capability to deliver a broad spectrum of payment services to the markets it serves.
Computer Age Management Services offers integrated services for receipt, verification and processing of financial and non-financial transactions for the BFSI (banking, financial services and insurance) sector, largely the mutual fund industry.
