Mumbai, November 30, 2021: India1 Payments Limited (formerly BTI Payments Private Limited), India’s largest White Label ATM operator has crossed the ATM deployment milestone of 10,000 White Label ATMs.
The company, under a license from the Reserve Bank of India, deploys ATMs under the brand name of India1ATMs in the semi urban and rural areas of the country. This achievement also makes India1ATM the second largest ATM brand in the semi-urban and rural areas.
India1ATM services more than 72 million customer transactions and facilitates a gross transaction value (GTV) of more than Rs136 billion every quarter on an average.
Acccording to September 2021 RBI data, India has 2,40,000 ATMs and about 28,000 of these are WLAs. The WLAs have, grown by 15% over last year and account for more than 50% of incremental ATMs deployed in this period.
Since 2014, India1 Payments has deployed over one-third of the total WLAs. The company has been dedicated in improving financial inclusion through accessibility of our ATM services in the under-penetrated semi-urban and rural areas of the country.
Says K Srinivas, Managing Director and Chief Executive Officer, India1 Payments: “Through this pandemic we have witnessed a high demand for cash in rural India and have been able to fulfil this demand through our White Label ATM brand India1ATM. We have leveraged our network of franchisees who have a good understanding of the local market to find locations that meet our ATM deployment criteria. With an average deployment of over 300 ATMs per month for the previous four months, we are committed to ensuring cash availability to customers even in the remotest corners of the country.”
India1 Payments Limited with headquarters in Bangalore, is a Reserve Bank of India authorised White Label ATM operator and is the largest independent non-bank ATM operator (referred to as a white label ATM operator) in India. India1 Payments Limited is promoted by The Banktech Group, Sydney, Australia.