News

In India's booming ATM market, some providers are pulling back on fleet size

August 1, 2017

India's HDFC Bank has downsized its ATM network — a first for the bank in India's teeming ATM market.

According to a report by Economic Times, machines selected for removal were not getting enough traffic as bank customer increasingly use their bankcards at the point of sale.  

HDFC has shuttered 40 machines to date; according to ET, ICICI bank has also downsized its network, though most of the 700 ATMs closed were "brown label" machines that the bank branded but did not own.

Overall, the number of ATMs is still climbing in India, though. Since December, the nation's total has grown by more than 2,600 units. However, the ET report said that white label providers are "staring at closure," with Hitachi shutting down nearly half of its 1,500 machines.