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Transaction Solutions inks 4th ATM deal with Indian bank

March 8, 2013

Transaction Solutions International has signed its fourth contract with India's Tamilnad Mercantile Bank. This latest deal is especially significant for the IAD as it could result in a 35 percent increase in its total ATM count.

According to a report by Proactive Investors, the new contract spans nine years and calls for the installation and operation of 200 additional Tamilnad-branded ATMs. The total could eventually go as high as 400 machines.

The new agreement provides for the deployment, management and operation of an additional 200 ATMs, potentially rising to 400 ATMs over time.

Funding for the project will come from a $28.6 million deal with India-focused investment fund CX Partners.

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