Tata Communications Payment Solutions Limited (TCPSL),
a wholly-owned subsidiary of Tata Communications Limited, has today successfully
deployed the 1,000th IndicashTM ATM - India’s first
white label ATM network for India. The ATM was inaugurated by Sanjay Baweja,
CFO, Tata Communications and Sanjeev Patel, CEO, Tata Communications Payment Solutions
Limited at Bhondsi, a Tier 4 village in Gurgaon, Haryana.
With this launch, the company brings the
IndicashTM ATM network to Delhi with a simultaneous rollout
of more than 100 ATMs across the city. This milestone deployment, follows TCPSL’s
initial launch in Chandrapada village, Thane District in June last year.
Over the last nine months, IndicashTM
,India’s first white label ATM network has strengthened its footprint across 650
towns and villages in the key states of the country including Maharashtra, Karnataka,
West Bengal, Bihar, Jharkhand, Kerala, Gujarat, Tamil Nadu, Uttar Pradesh, Madhya
Pradesh, Gujarat and Andhra Pradesh.
Backed by the $96.79 billion Tata group,
IndicashTM is aimed at empowering Indians with the convenience
to access their own money with ease across cities, towns and villages. The company
is committed to roll-out 15,000 ATMs across India by June 2016, with a strong focus
on driving ATM penetration in tier three to six markets given the fact that
on the world’s global stage, India is by comparison an underpenetrated ATM market
with just 125 ATMs per million of population (compared to 1,390 in the US, 530 in
the UK, and 211 in China).
The northern region forms an intergral part of the
company’s rollout plan of 15,000 IndicashTM ATMs over
the next three years. To further ATM accessibility, over 4,000 IndicashTM
ATMs will be deployed across geographies such as Delhi-NCR, Uttar Pradesh,
Madhya Pradesh, Punjab, Haryana, Jammu & Kashmir and Rajasthan by 2016.
Sanjeev Patel, CEO, Tata Communications Payment
Solutions Limited, says, “IndicashTM has pioneered a
new industry model with its focused execution and nationwide outreach. We
are committed to working with the Reserve Bank of India (RBI) in its drive to enhance
inclusive financial services in India. The deployment of 1,000 IndicashTM
ATMs reinforces our commitment to empower the masses with ATM accessibility into
the harder to reach Indian regions. We have now have rolled out 30 per cent of our
ATMs to date, in villages with less than 10,000 population, exceeding the
RBI target mandate by 200%. We will continue to use our expertise in technology
to provide ‘neighbourhood convenience’ and a friendly end-user experience for the
IndicashTM customers. Like most other bank ATMs, Indicash
offers a host of cash and non-cash services such as cash withdrawals, balance enquiries,
mini-statements and PIN change. It accepts all domestic debit cards with the first
five transactions per month being free, in line with RBI regulations for use of
"Other Bank" ATMs.
IndicashTM was designed
on the back of in-depth consumer research conducted by TCPSL across the country.
All IndicashTM ATMs have been designed to make 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.The ATMs
have been customised with menu instructions in Hindi for the northern region.
The second phase of the Indicash network rollout
will see further value-added andutility services being offered to customers as well
as third party promotions.