A day before Tata Communications Payment Solutions Limited (TCPSL), stated that they are planning to roll out 15,000 new ATMs across the country by 2016. TCPSL is the first non banking company to launch the white label ATMs network. The company launched its first ATM in the June last year. It has has so far set up 1,000 ‘Indicash’ ATMs across India.
CEO of the company Mr. Sanjeev patel stated that they work in accordance with the RBI and are trying to help in enhancing the financial services across the country. Indicash ATM network has spread across 650 towns and villages in key states across the country. More than 30% of the ATMs of the company are in rural areas with low population of the country.
According to reports India is an under-penetrated ATM market with just 125 ATMs per million of population. Over 40,000 new ATMs will be installed with the latest technologies and all the facilities across the north eastern states like Delhi, Punjab, Jammu and Kashmir etc.