Tata Communications Payment Solutions Limited (TCPSL),
that owns and operates India’s first and largest white label ATM (WLA) network under
the brand name, IndicashTM’, 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 IndicashTM
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.
TCPSL WLA Solutions for
Benefits for Banks:
• Plug & Play model - Instantaneous ATM network with choice of high potential locations
• Zero capex investment • ATM roll out cost less than 1/3rd cost of Brown Label
• No operational hassles in managing an ATM network
• Pan-India branding visibility at ~ 8200+ touchpoints (as on Oct’18) across ~ 4200 Towns and 22 states (As on Oct’18)
• Flexibility in exit of sites after a minimum period of 12 months
• Release significantman-power bandwidth
• No load on bank’s switch as entire network of IndicashTM ATMsrun on TCPSL’s switch
• Marketing & Targeted brand enagement opportunities to upsell products in high
potential semi urban and rural markets
• Banks can deploy Business Correspondents at the ATMs to service existing and new
Benefits for Bank Customers::
• Neighbourhood Convenience of accessing Bank ATMs
• Free ATM services for Bank customers – as per RBI guidelines
• Aid in keeping accounts active, as it provides an easy access to their money through
their neighborhood ATMs
• Avail a wide array of financial products and services without having to go to
a Bank branch like MF, Insurance, etc
• Enjoy host of enhanced ATM services like setting their favorite transaction to
save time on their every visit, preferred langauge feature to choose and enjoy his
preferred language of transaction, across the IndicashTM ATM network.
Backed by the ~ $150+ billion Tata brand (as on Mar 2018), 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 (as on Oct’18), 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).
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.
IndicashTM 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 IndicashTM 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.
Speaking about this offering, Sanjeev Patel,
CEO, Tata Communications Payment Solutions Limited, said, “ATMs continue
to be a vital physical touchpoint for the masses to access an array of banking and
financial services right in their neighbourhood. We are pleased to offer a game
changing ATM deployment model for Banks anchored on our strength of an expansive
ATM Network of 8500 ATMs and operational expertise to manage ATM networks. Our WLA
solution addresses the need gap of Banks seeking cost effective ways of network
rollout. This solution is a win-win proposition enabling Banks to instantly rollout
out their ATM cum brand footprint in preferred high potential geographies at less
than 1/3rd cost of deploying ATMs with zero capex cost. The inherent cost and operational
benefits that Banks can derive out of this solution makes this a smarter way of
network expansion. We are positive that this model will redefine the partnership
between Banks and white label ATMs in the country.”
In Maharashtra, IndicashTM
has a wide presence of 1000 ATMs spanning 30 districts. Over 50% of the IndicashTM
ATMs are deployed in semi urban and rural geographies in the state, and empower
millions with ATM accessibility.
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. IndicashTM 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.