Bharat Mudra payment services provides the Nation’ s most comprehensive service suite for New ATM Management services
Inception…… Before 2012, RBI allowed only the banks to set up Automated Teller Machines (ATM). ATMs growth was important as ATMs provided an alternative to the depositors to carry out various financial and non-financial transactions without having to visit a bank branch, like withdrawing and depositing cash, obtaining account information, checking bank statements, etc. ATMs expanded the scope of banking to anytime, anywhere banking through interoperable platforms provided by the authorized shared ATM Network Operators / Card Payment Network Operators. As such, ATMs growth across the country could be used as a powerful tool for financial inclusion by delivering a wide variety of banking services to customers. However, under banks, the growth of ATMs was mostly limited to Tier I and Tier II cities. In order to rapidly grow the reach of ATMs to Tier III – Tier VI cities in the country, RBI allowed non-bank entities to set up ATMs since 20 June 2012 and hence White Label ATMs (WLA) came into existence. ……
Non-bank entities incorporated in India under the Companies Act 1956, to set up, own and operate ATMs in India are known as “White Label ATM Operators” (WLAO) and such ATMs are called “White Label ATMs” (WLAs). As per the revised guidelines issued by RBI in March 2019, on WLAs in India, WLAOs are now allowed to offer cash deposit and bill payment services as per the technical feasibility of the device as determined by the nodal body for licensing, NPCI. Furthermore, WLAs have been allowed to display advertisements of nonfinancial products as long as it does not run on the screen when the customer is transacting. Apart from increasing the scope of services of the WLAs, RBI has also widened the sources of cash for the WLAs. Initially the WLAOs sourced cash for its ATMs from a Sponsor bank; however now they can source cash directly from RBI offices and currency chest and also from any scheduled bank, including Cooperative Banks and Regional Rural Banks.
White-label automatic banking machines (ABMs) are ATMs that provide an alternative source of cash dispensing visa traditional automatic banking machines (ABMs) from banks. White-label ABMs may be operated by an independent ATM deployer.
White label ATM When banks outsourced the ATM operations to a third party. When ATMs are owned and operated by non-bank entities but they are not doing ‘outsourcing-contract’ from a particular bank. The private company owns & operates the ATM machine, pays office rent.
As different customers have different needs depending on when they have embarked on the building of their ATM networks, our services are customised to suit customer requirements. A National deployer, which means we can deploy ATMs for you across the India.
A Transaction Processor‚ which means we can provide you technology solutions and services, provide a comprehensive acquiring service by connecting to authorizers using gateway services and ensuring all transactions are in proof using a comprehensive back office risk-based service