Tata Communications Banking InfraSolutions Ltd. (TCBIL) has announced that a new contract to deploy and manage nearly 14,000 ATMs for public sector banks in India has made it the nation's largest provider of managed services for ATMs.
Mumbai, India-based TCBIL is a wholly owned subsidiary of Tata Communications and one of the fastest growing payment solutions providers in the country. The new contract will boost TCBIL's total number of ATMs under management to 27,000.
The company will deploy the ATMs over a span of two years for India's 21 public sector banks. Around half of the machines are to be deployed in semi-urban and rural locations, with the other half installed in metro and urban markets.
"We are honored to have won this prestigious mandate to assist the public sector banks in their endeavour to expand their ATM networks," said Sudip Kumar, president of Tata Communications Banking InfraSolutions Ltd. "This is a huge endorsement of our competence in the banking infrasolutions space as we commenced operations only three years ago. TCBIL will function as a one-stop solution to the banks for the entire value chain - from identifying locations to implementing the ATM as per their bespoke brand guidelines."
But given the rising pace of growth in the ATM market in India, the title of "largest managed services provider" is a moving target. Four-year-old Prizm Payments currently manages 10,000 ATMs for public sector banks — 3,000 less than Tata's pre-contract number — but the company is now in the process of adding 40,000 more. This would raise its total to 50,000 to TCBIL's 27,000. Assuming, of course, the unlikely event that TCBIL stops adding to its ATM count.
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