"BTI Payments Private Ltd, a joint venture between BANKTECH Group and ICICI Ventures, today announced the completion of 3,000 installations of their India1 brand of white label ATMs (WLA).
"BTI Payments is the only WLA operator to complete their installation schedule ahead of time," the company said in a statement.
As per the roll-out commitment, BTI was to complete the installation of 3,000 by March 2016.
The company said more than 90 per cent of installations were in semi-urban and rural markets.
"Supporting the Central Government's Jan Dhan Yojana programme and financial inclusion drive, India1 ATM would continue to maintain its rural focus and is planning to expand to the states of Madhya Pradesh, Jharkhand and Uttrakhand in the last quarter of this financial year," it said.
BTI said it is well positioned to achieve its target of 9,000 by March 2017.
It will help thrust the financial inclusion initiatives of Jan Dhan Yojana, Small Banks and Payment Bank roll-out in these markers, it added.
"We are delighted to accomplish our second year roll out obligation ahead of schedule. Going forward, we look forward to partnering with the soon to come Small and Payment banks in accelerating the financial inclusion agenda," BTI Payments CEO and MD K Srinivas said in a statement.
BTI Payments is present in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Bihar and Uttar Pradesh.
Covering 150 districts and over 2,700 villages, BTI touches over five million rural customers each month through its Automated Teller Machines (ATMs) and Point of Sale (PoS) terminals.
Established in Sydney, Australia in 1991, The BANKTECH Group, parent company of BTI Payments, manages ATM and PoS terminals in Australia, India, Hong Kong, New Zealand and the United Arab Emirates.
