Axis bank signs India's largest ATM outsourcing deal

Axis Bank has signed an agreement with two service providers to increase its ATM fleet to more than 9,000 within 18 months.

According toan article at The Business Standard, Axis inked a contract with Prizm Payment Services and AGS Infotech to set up and manage 5,000 ATMs on top of Axis' current fleet of 4,293.

Prizm will install 3,500 ATMs; AGS Infotech will install 1,500. Both providers will own and manage the ATMs, leaving Axis responsible only for cash settlement, paying the providers a fee for each transaction.