A flexible plug and play model that enables Co-operative Banks to instantly expand their ATM cum brand footprint at less than 1/3rd cost of deploying ATMs
Pune, March 22, 2018 – Tata Communications Payment Solutions Limited (TCPSL), that owns and operates India’s first and largest white label ATM (WLA) network– under the brand name, ‘Indicash™ ATM’, today announces the launch of a game changing WLA solution for Co-operative Banks that is set to redefine the ATM deployment approach of Banks in the country. The new solution allows Co-operative Banks to instantly expand their ATM network in a cost effective manner by leveraging the existing network of ~ 8500 Indicash™ ATMs, through a co-branding arrangement.
The key USP of this plug and play ATM deployment solution is that it enables Banks to instantly expand its ATM cum brand footprint in high potential markets with minimal investments, zero capex and without any operational hassles. With this solution, Banks can now roll out their brand presence at less than 1/3rd cost of deploying brown label ATMs.
As part of its continuous endeavour to introduce innovations in the ATM industry, TCPSL’s pioneering WLA solutions are designed for all Banks i.e. public, private, co-operative, small & payment Banks along with NBFCs.
Indicash™ ATM network also offers Co-operative Banks a host of enhanced digital ATM screen advertising capabilities. Banks can deploy ATM screen led brand and lead capture campaigns, upsell products & services & run loyalty programs. Partner bank customers enjoy neighborhood convenience of accessing their bank ATMs and avail free ATM services as per the RBI guidelines. Moreover, bank customers can also avail host of enhanced ATM services like setting their favorite transaction to save transaction time on their every visit, preferred language feature that enables customers to choose and enjoy transacting in their preferred language across the Indicash™ ATM network.
TCPSL’s WLA solution has been leveraged by Banks like Bank of India (BOI), Federal Bank, Development Bank of Singapore (DBS), The Nainital Bank, Sutex Co-op Bank Ltd., Solapur Janata Sahakari Bank, DNS Bank and Shri Mahila Sewa Sahakari Bank Limited.
Speaking about this offering, Sanjeev Patel, CEO, Tata Communications Payment Solutions Limited, said, “ATMs continue to be a vital physical touchpoint for the masses to access an array of banking and financial services right in their neighbourhood. We are pleased to offer a game changing ATM deployment model for Co-operative Banks anchored on our strength of an expansive ATM Network of ~ 8500 ATMs and operational expertise to manage ATM networks. Our WLA solution addresses the need gap of Co-operative Banks seeking cost effective ways of network rollout. This solution is a win-win proposition enabling Banks to instantly rollout out their ATM cum brand footprint in preferred high potential geographies at less than 1/3rd cost of deploying ATMs with zero capex cost. The inherent cost and operational benefits that Co-operative Banks can derive out of this solution makes this a smarter way of network expansion. We are positive that this model will redefine the partnership between Banks and white label ATMs in the country.”
In Maharashtra, Indicash™ has a wide presence of ~ 1000 ATMs spanning 30 districts. Over 50% of the Indicash ATMs are deployed in semi urban and rural geographies in the state empower millions with ATM accessibility
Indicash™, India’s first and the largest white label ATM network with over 8500 ATMs across 5000 towns and villages in 20 states, is committed to extend ATM accessibility to the masses in Tier 3 to 6 geographies which are largely underserved by the Banks. Currently, with over 57%* market share in the WLA market, it ranks amongst the top 10 ATM service providers in the country and is the second largest ATM service provider in the semi-urban and rural geographies after SBI. Indicash™ ATMs offer a host of cash and non-cash services such as cash withdrawals, balance enquiries, mini-statements, PIN change and VAS services like card-to-card transfer, cheque book request and bank statement request. It accepts all domestic debit cards with the first five or three transactions per month being free, depending on the location, in line with RBI regulations for use of ‘other bank’ ATMs.
*Source for Indicash market share : https://www.npci.org.in/product-statistics/nfs-product-statistics-0
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