India1 Payments plots next growth curve
General Manager K. Srinivas, who has built India1 from an initiative to the country’s third largest ATM brand, has been moving away from daily operations. In his statement to Mint, vice president of the manager will continue as a steering strategy and regulatory participation.
In the double CEO model, India1’s traditional ATM verticals are now managed by Kumara, currently the current head sales and marketing manager, Krishnan, while the new Fintech Branch Paysis, the current business officer Rajeev Desai.
White Label ATM operators are non -bank companies with Indian Reserve Bank to establish, own and operate ATMs.
ATM Growth Story
India1 became an important player in India’s white -labeled ATM market with more than 15,000 ATMs actively in the country. Srinivas said it has 53% of the operations between the ATMs and the operators with a white market share and white -labeled operators.
India has a total of 250,000 ATMs, which are close to 36,000 white machines. As of July, 14,500 ATMs of India1, according to the data of the Indian National Payments Corporation (NPCI), makes it only the largest WLA player behind the Indian State Bank (61,600 ATM) and the HDFC Bank (21.300) and the third largest ATM brand in India.
Its interest is even more pronounced outside the subways: India1 is the second largest ATM brand with 12,100 ATMs in semi -urban and rural India.
The company watches its roots on Banktech Group PTY LTD, an Australian -based payment company, and BTI payments of India Singapore PTE Ltd. Banktech guaranteed one of the first licenses, but it was clear that he needed a strong local partner to scale from the beginning.
K. Srinivas, a former Airtel Consumer Business Chairman K. Srinivas, came to the ship to build an atm operator with an atm operator, which was the largest white labeled ATM operator.
Company reported revenues in FY25 La670 CRORE AND Snow La35 Crore. Srinivas said that profitability was supported by the increase in exchange fees by the Indian Reserve Bank, especially the Indian Reserve Bank.
A exchange fee is charged by the bank or company providing the ATM service and paid by the customer’s export bank for transactions such as cash withdrawal and balance investigations.
As of May 1, ATM exchange fees La2 for financial transactions and La1 For non -financial transactions. Cash withdrawal fee is gone LaFrom 19 La17 per transaction and balance control fee LaFrom 7 La6 per procedure.
Srinivas said, with this last change, we are profitable enough to produce enough cash to present more ATMs while talking now, ”Srinivas said. The company expects to expand its footprint to 20,000-25,000 ATMs in the next five years.
India1 compete with the other white -labeled ATM operator, such as Hitachi (11,700 ATM), Vakrangee (5,300) and Tata Indicash (4,500). The company also has a strong presence in semi -urban and rural markets, running 12,100 ATMs, only the second of 32,000 of the SBI, the banks provide a clear advantage as they slow down their ATM distribution.
He added that the use of ATMs in rural markets continues and has a positive perspective for the company’s growth.
Although the largest white -labeled ATM holds the footprint, India1 faces a structural challenge: banks throughout India close the ATMs due to shifting towards up and digital payments, even if they remain at record levels in cash. Industry experts attribute this to consolidation and forced digital first strategies.
In order to balance this decline in ATMS, India1 is expanding to a new vertical “Banktech”, which aims to provide technology -led transaction services for banks, go beyond pure ATM operations and gradually improve the relevance level in a digital financial ecosystem.
A Banktech Bet
India1 bets on financial technology for smaller banks through the new vertical paysis. The arm, which starts as an in -house switching backbone for India1’s ATMs, now serves rural cooperative and small financial banks.
“At the beginning, we installed Paysis to carry out processing for India. But then we noticed that many small banks had the ability to build such an infrastructure, nor the financial muscle.” “Our goal is not ICICI or HDFC. Hundreds of cooperative banks and rural banks that need technology expertise.”
Today, Paysis manages transition and transaction services and is a certified partner for Visa, MasterCard and NPCI. It also offers banks reconciliation, card and UPI processing and digital transaction solutions. Already, Kol RBL and several cooperative banks have been enrolled and quickly scaling plans.
Srinivas said, iz We expect that we can sign 200 cooperative banks in the next two years, ”Srinivas said. There are currently more than 90,000 rural banks and cooperative credit institutions in the country.
While taking back from the operations, the Srinivas continues to sit at the board of directors and to be part of the industrial forums such as the Confederation of the ATM industry (CATMI). For investors, long -term plans, including final outputs, continue to talk about long -term plans.
“The core ATM is growing about 10-15% per year,” he said. “But the new technology is a vertical area, so we take a step every time starting from where our strong aspects lie. This is a good journey.”
