TCPSL launches 1,000 white label ATMs in Karnataka by 2016

Tata Communications Payment Solutions Limited (TCPSL) will set up over 1,000 white label 'Indicash' ATMs across Karnataka by 2016. TCPSL will roll out over 15,000 Indicash ATMs across India over the next three years in tier 1 to 6 cities in keeping with the Reserve Bank of India (RBI) vision to accelerate growth and improve ATM penetration in India.

At present, the company has already set up 15 Indicash ATM centers in Bengaluru. Bengaluru will have over 90 Indicash centers. The key locations in Bengaluru include Madiwala, Chandra layout, Yeshwanthpura, Indiranagar, Hesarghatta, Kundalahalli, TQ Bengaluru rural, Nahashettyhalli, Chokasandra, CNhalli, Frazer town, Shivajinagar, Banashakari, Rajajinagar and Jayanagar.

In phase I, it will roll out over 150 centers across the state by the end of September 2013. Initially, it will start with districts viz Bengaluru, Belgaum, Bellary, Chitradurga, Dakshina Kannada, Mysore, Dharwad and Tumkur regions.

Having won the 'B' scheme licence from the Reserve bank of India (RBI) to set up white label ATMs, TCPSL kick started the process by launching Indicash in Chandrapada village at Thane District in Maharashtra on 27th June 2013, which is a tier 5 village. Under the scheme 'B', RBI mandates that for every 1 ATM in tier 1 and 2 cities, 2 ATMs ought to be deployed in tier 3 and 4 cities.

TCPSL will engage federal bank as 'sponsor' bank to ensure cash supply and have smooth back end operations. First five transactions per month are free in Indicash. It will accept only domestic debit cards and those which are engaged with National Financials Switch (NFS).

Sanjeev Patel, CEO, TCPSL said, "TCPSL is thrilled to be playing a significant and pioneering role in the banking industry by deploying 15,000 new Indicash ATMs across India by 2016. Karnataka is a key market for us as it offers a plethora of options to drive ATM reach in IT, industrial, educational, commercial and tourist zones. Moreover, Indicash aims to reach geographies that have, untill now, either been out of purview or have previously had very minimal banking infrastructure. Our endeavour is to be conveniently located to consumers and to provide a user-friendly interface that truly simplifies the banking experience for the end user."

He further added, "This is an endorsement of our leadership, credibility and track record in deploying and managing a contracted 27,000 ATMs for banks in India as of date. Our goal is to rollout 50,000 ATMs by 2016."

Indicash will have a 14-inch multi-lingual ATM user interface. The company will put uph posters in vernacular language to help first timers to transact in ATM center. Going forward, Indicash plans to provide value added and utility services - it will offer bill payment, remittance, lead captures, insurance payment, thrid party advertising etc.

White label ATMs is happening for the first time in India. It is basically an alternative source of cash dispensing and a non-bank owned ATMs which offers both cash and non-cash services such as cash withdrawals, balance enquiries, mini-statements and PIN changes.

Tata Communications Payment Solutions Limited (TCPSL) is a subsidiary of Tata Communications which has a wide portfolio of financial services for banks such as end-to-end deployment and managed services of ATMs, Point of Sale (POS), card issuance: management and switching services, and hosted core banking services. It was previously referred as Tata Communications Banking InfraSolutions.