Tata Communications Payment Solutions Limited (TCPSL),
a wholly-owned subsidiary of Tata Communications Limited, today inaugurates the
IndicashTM ATM network with more than 10 ATMs across
Kochi district. TCPSL’s first white-label ATM was launched in Chandrapada village,
Thane District, Maharashtra on the 27th of June 2013. This is in keeping with the
Reserve Bank of India’s (RBI) vision to accelerate growth and improve ATM penetration
across the country.
Kerala plays a vital role in the company’s rollout
plans of 15,000 Indicash ATMs across India over the next three years. TCPSL’s
aim of enabling financial empowerment to users across India will see a strong focus
on tier 2 and tier 3 towns in Kerala. TCPSL will be rolling out 100 Indicash ATMs
in the state of Kerala across districts such as Kochi,Trivandrum, Kasargode, Malappuram,
Palakkad and Thrissur by the end of this year.
Mr. Sanjeev Patel, CEO, Tata Communications Payment
Solutions Limited, says, “The inauguration of the Indicash ATM network in Kochi,
today, marks our foray in Kerala. Kerala is a big tourism hub and easy banking becomes
an imperative to ensure an impetus for continued tourist influx. Our endeavour is
to make ATM services available across urban as well as semi-urban and rural locations
which have had negligible or minimal banking infrastructure. Indicash ATMs have
been designed to provide a user-friendly and intuitive consumer interface that will
simplify the banking experience for the end user.”
The Indicash ATM was designed on the back of an
in-depth consumer research conducted by TCPSL across the country. It analysed the
main concerns surrounding the use of ATMs and found these to be primarily: the short
dispensation of cash, difficult user interfaces, swallowing of ATM cards by the
machine and privacy/security issues - especially in Tier 3 and rural locations.
All Indicash ATMs have been designed to guard against
these situations, making banking in India safer, more reliable and stress-free.
Key features include: dip machines that ensure cards are not swallowed by the machine;
an interface that has been designed to be intuitive and simple with multi-lingual
messaging; and privacy screen filters, key pad shields and electronic surveillance
to enable secure transactions. For Kochi and the rest of the state, these ATMs have
been customised with menu instructions in Malayalam.
Along with the regular services, the second phase
of the Indicash network roll-out will see value-added and utility services being
offered to the customers. As per RBI regulations for use of ‘other bank ATMs’, Indicash
ATMs will accept all domestic debit cards with the first five transactions per month