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Tata Communications Payment Solutions Ltd (TCPSL), a wholly-owned subsidiary of Tata Communications, plans to launch 200 white ATMs under the Indicash label across Maharashtra by September-end.
White label ATM
In the Indian context, a white label ATM is owned and operated by a non-banking entity, and can be used for financial transactions by customers of any bank.
The rollout is part of a plan to set up 15,000 such machines across India in the next three years, and follows the launch of the flagship white label ATM in India at Chandrapada village in the Thane district of Maharashtra on June 27.
Maharashtra has 127 ATMs/million people against 172 ATMs/million in Tamil Nadu. The launch of the 200 ATMs in Maharashtra will cover districts such as Pune, Kolhapur, Thane, Nasik, Nagpur and Ahmednagar , and includes over 50 ATMs in the Pune district. The ATMs have been customised for Maharashtra with menu instructions in Marathi. At the launch of the first Indicash in Pune, Sanjeev Patel, CEO, TCPCL said, “Given Maharashtra’s strengths in the industrial, educational and commercial zones, it is a key focus area for banking activity in the country. ‘Indicash’ will open up transaction possibilities in areas where there were previously none or which have previously had very minimal movement. We have designed Indicash with an intuitive consumer interface that will make banking simple for the end user.”
The rollout is part of a plan to set up 15,000 such machines across India in the next three years, and follows the launch of the flagship white label ATM in India at Chandrapada village in the Thane district of Maharashtra on June 27.
Maharashtra has 127 ATMs/million people against 172 ATMs/million in Tamil Nadu. The launch of the 200 ATMs in Maharashtra will cover districts such as Pune, Kolhapur, Thane, Nasik, Nagpur and Ahmednagar , and includes over 50 ATMs in the Pune district. The ATMs have been customised for Maharashtra with menu instructions in Marathi. At the launch of the first Indicash in Pune, Sanjeev Patel, CEO, TCPCL said, “Given Maharashtra’s strengths in the industrial, educational and commercial zones, it is a key focus area for banking activity in the country. ‘Indicash’ will open up transaction possibilities in areas where there were previously none or which have previously had very minimal movement. We have designed Indicash with an intuitive consumer interface that will make banking simple for the end user.”
Other services
Along with regular cash and non-cash services such as cash withdrawals, balance enquiries, mini-statements and PIN changes, Indicash plans to offer value-added and utility services to customers with offers and third party promotions in the second phase of its rollout.
5 transactions free
According to RBI regulations for use of ‘Other Bank ATMs,’ Indicash will accept all domestic debit cards with the first five transactions per month being free.
Source: thehindubusinessline
Source: thehindubusinessline
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