A flexible plug and play model that enables Banks to instantly expand their ATM cum brand footprint at less than 1/3rd cost of deploying ATMs
Delhi, 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™’, today announces the launch of a game changing WLA solution for Banks that is set to redefine the ATM deployment approach of Banks in the country. The new solution allows 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 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.
In Delhi – NCR , Indicash™ has a wide presence of ~ 500 ATMs deep rooted in locations that have no or very less ATM accessibility thereby empowering millions with the convenience to access their money.
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/
About Tata Communications Payment Solutions Limited (TCPSL)
Tata Communications Payment Solutions Limited (TCPSL), (CIN No. U72900MH2008PLC179551) is a wholly-owned subsidiary of Tata Communications Limited. TCPSL’s service offering is based on deep-domain experience of the banking sector backed by Tata Communications’ highly resilient and secure global infrastructure and managed services credentials. TCPSL has a strong track record of deploying a wide portfolio of financial services for Banks, such as:
· ATM outsourcing: end-to-end deployment and managed services
· Point of Sale (POS): enablement and management
· Card issuance: management and switching services
· Hosted Core Banking services
· Financial inclusion: end-to-end service
TCPSL is the market leader in managed ATM services with an order book of over 16,000 ATMs. It is also the largest White Label ATM service provider in the country with a network of over 8500 Indicash™ ATMs as on Jan ’18.
The company is headquartered in Mumbai and retains a talent pool of over 200 employees with domain expertise from the banking, finance and payment services industries.
About Tata Communications
Tata Communications Limited (CIN no: L64200MH1986PLC039266) along with its subsidiaries (Tata Communications) is a leading global provider of A New World of Communications™. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
The Tata Communic*ations global network includes one of the most advanced and largest submarine cable networks and a Tier-1 IP network with connectivity to more than 240 countries and territories across 400 PoPs, as well as nearly 1 million square feet of data centre and collocation space worldwide.
Tata Communications’ depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services and leadership in global international voice. Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India.