STRATEGIC PARTNERS
June 13, 2002
MUMBAI, India -- Broadband provider Reliance Infocom is planning to enter India's rapidly growing ATM marketplace.
According to Financial Express, the company wants to deploy ATMs for banks and offer switching and connectivity between networks.
The report stated that Reliance Infocom is in discussions with NCR Corporation and Diebold HMA, and that it also wants to tap into ATM and POS terminal installations at India's gas stations.
Currently, the number of ATMs in India, the report said, is about 7,000. That number, however, has increased by more than 100 percent for two years. Industry watchers believe that pace will slow slightly to about 80 percent annually this year and after.
Some 300 to 400 ATMs are being added throughout the country each month, and by the end of this year, 10,000 units are expected to be in place.
