News

Indicash rolls out new value-added services for white label ATMs

The network operator says that three new service offerings will help to create a 'seamless banking experience' at its 5,500 ATMs across India.

July 24, 2015

Tata Communications Payment Solutions Ltd., operator of India's largest while label network, Indicash, has launched three new services for customers, including card-to-card funds transfer, checkbook request, and account statement request.

Indicash card-to-card transfer allows customers of participating banks to transfer up to 5,000 rupees ($78) per transaction from their debit card to the beneficiary's bank account using an Indicash ATM.

Senders simply dip their debit card at an Indicash ATM, and enter their PIN, plus the16-digit debit card number of the beneficiary. Once the customer confirms the amount to be transferred, funds are sent instantly from the primary account linked to the sender's debit card to the account linked to the beneficiary's debit card.

Indicash ATM users whose banks have enabled the services can also request a checkbook and account statement for the primary account linked to their debit card.

"This suite of value-added services will offer a seamless banking experience to customers at our ATMs — all under one roof — providing self-service options that are available with ready-to-perform transactions," said Sanjeev Patel, CEO of TCPS. "[The] services will be a big advantage in the underserved banking geographies with no access to bank branches or online banking, serving customers when, where and how they want to do their banking with our multipurpose ATMs."

In the first phase of rollout, the services will be offered at more than 1,600 Indicash ATMs in tier-one cities such as Mumbai, Delhi, Chennai, Hyderabad, Lucknow, Pune, Jaipur, Kolkata, Bangalore, and Kochi, a press release said. Soon after, they will be extended across the Indicash ATM network covering tier-two to tier-six locations.

The Indicash ATM network currently operates 5,500 ATMs deployed across 22 states and 3,000 towns and villages in India. The network accepts all domestic debit cards for transactions that include cash withdrawals, balance enquiries, mini-statements and PIN changes.