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FIS to increase its ATM count in India by 5,500

August 20, 2012

Banking and payments technology company FIS has announced new agreements to deploy and manage more than 5,500 ATMs in India, where it has been serving clients for 15 years.

The FIS deployment is part of a massive two-year ATM rollout plan devised by a consortium of India's public-sector banks. The plan awarded contracts for approximately 60,000 ATM installations to nine deployers. Half of the new ATMs will be deployed  in India's rural areas, in the expectation that this will help extend access to financial services to India's unbanked millions.

The new FIS deployment will significantly expand the company's presence in the country, where it currently drives more than 3,500 ATMs and operates two of India's four interbank ATM switching networks. As part of the new multi-year agreement, the company will provide end-to-end outsourcing services that include supply, setup and ongoing ATM operation.

"India is a very attractive business market, and this announcement further illustrates our commitment to the country," said Mark Davey, executive vice president of FIS international solutions group. "This win is a testament to FIS' ability to leverage our global scale and expertise to solve a local market challenge."

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