TCPSL launches Indicash in Kolkata


30th 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 a simultaneous roll-out of 16 ATMs in the city of Kolkata. TCPSL’s first white-label ATM was launched in Chandrapada village, Thane District, Maharashtra on June 27th 2013 and currently has a network footprint of over 350 ATMs across eight states in the country. This is in keeping with the Reserve Bank of India’s (RBI) vision to accelerate growth and improve ATM penetration across the country.

 

TCPSL plans to deploy a minimum of 1,000 IndicashTM  ATMs in West Bengal, a region which plays a vital role in the company’s plans to roll-out 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 3 to tier 6 towns in West Bengal. In phase one, TCPSL will be rolling out 150 Indicash ATMs in the state of West Bengal across districts such as Kolkata, Bardhaman, Birbhum, 24 Parganas, Hooghly, Jalpaiguri, Siliguri and Howrah.

 

Sanjeev Patel, CEO, Tata Communications Payment Solutions Limited, says, “The inauguration of the IndicashTM ATM network in Kolkata today marks our foray into West Bengal. Kolkata, a prominent industrial and educational zone, is a key market for us to drive ATM accessibility. Our endeavour is to make ATM services available across urban as well as semi-urban and rural locations across India, with a focus on places 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.”

 

IndicashTM was designed on the back of in-depth consumer research conducted by TCPSL across the country. The research analysed the main concerns surrounding the use of ATMs and found these to be primarily: the short dispensation of cash; difficult user interfaces; ATM cards being swallowed by the machine; and privacy/security issues - especially in Tier 3 and rural locations.

 

All IndicashTM 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 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 West Bengal these ATMs have been customised with menu instructions in Bengali.

 

Along with the regular services, the second phase of the IndicashTM  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,’ IndicashTM ATMs will accept all domestic debit cards and the first five transactions per month will be free.