Business Standard

BTI Payments to open 1,000 more ATMs in 3 months


Press Trust of India New Delhi
White label ATM operator, BTI Payments plans to add another 1,000 ATMs to its network in the next three months, taking the toal to 4,000.

"We will open about 800-1000 White Label ATMs (WLA) in the next three months by March 2016," BTI Payments Private Limited CEO K Srinivas told PTI.

The company would be operating about 4,000 ATMs by the end of the current fiscal, he said.

BTI rolled out 3,000 'India1' ATMs in rural India, three months ahead of RBI stipulated roll-out schedule thereby playing a key role in the financial inclusion agenda, he said.

As per the roll-out commitment, BTI was to complete the installation of 3,000 by March 2016, Srinivas said.

WLA are an cash dispensing machine which are owned and operated by non-banking companies and does not have any label of any bank.

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, he said.

BTI Payments, a joint venture between BANKTECH Group of Australia and private equity firm ICICI Ventures, stands amongst the top 5 ATM deployers in the banking industry.

"With presence in 8 states (Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Bihar, Uttar Pradesh), 150 districts and over 2700 villages, BTI today touches over 5 million rural customers each month," he said.

Currently, there are three partner banks -- Kotak Mahindra Bank, Federal Bank and ANZ, he said, adding, the company is in talks with other banks for partnership.

"Going forward, we look forward to partnering with the soon to come Small and Payment banks in accelerating the financial inclusion agenda," he said.

As per the roll roll out plan submitted to the Reserve Bank, the company will have 9,000 India1 ATMs by March 2017.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 21 2015 | 3:28 PM IST

Explore News