TCPSL launches Indicash in Kochi


23rd October, 2013

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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 being free.