News

Tata Comm to install 1K ATMs in underserved Karnataka State

August 9, 2013

Tata Communications Payment Solutions Ltd. has said it will install about 1,000 white-label Indicash-branded ATMs in the state of Karnataka in southwest India. The plan falls in line with the goal of the Reserve Bank of India to extend financial services to India's un- and underbanked populations. 

According to the Business Standard, confirmation of the plan came from TPSL chief executive Sanjeev Patel.

"As Karnataka lags behind other states in per capita ATM penetration, we plan to install about 1,000 ATMs across the state in phases as part of our national plan to rollout 5,000 ATMs by 2016," he told reporters. By September, 150 of the ATMs will be installed, he said.

TPSL developed its Indicash ATMs to meet the needs of populations that are new to the financial services industry. The machine was designed to be simple, intuitive, multilingual and secure to use, with privacy screen filters, key pad shields and electronic surveillance.

Debit- and credit cardholding customers of any Indian bank will be able to use the machines. In phase two of the rollout, TPSL will add utility bill payment and value-added features to the machines, Patel said.

Read more about installation and deployment.