Financial Daily from THE HINDU group of publications
Thursday, Feb 12, 2004
Financial Daily from THE HINDU group of publications Thursday, Feb 12, 2004 |
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Money & Banking
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Information Technology DCB ties up with Euronet for ATMs Our Bureau
Mumbai , Feb. 11 DEVELOPMENT Credit Bank (DCB) has entered a strategic alliance with Euronet for managing its 64 ATM network across the country. Further, DCB would connect to Cashnet, Euronet's shared ATM network that operates 2,500 ATMs spread across 200 cities. At a press conference announcing the tie-up Mr Sandeep Mookerjee, Head - Personal Finance Services, DCB, said that the DCB would continue to deploy its own ATMs in areas where the bank has a dominion. Cashnet access will ensure a higher reach in areas where the customer concentration is lower. Euronet charges Rs 27 per transaction, which is a substitution cost to building an owned network for DCB, according to Mr Mookerjee. Euronet provides secure electronic transaction solutions to banks, mobile operators and retailers. Their tie-up with Hutch and Airtel allows pre-paid cardholders to recharge the SIM card through ATM networks or SMS. Cashnet, the ATM solution currently includes IDBI Bank, Citibank, UTI Bank and Standard Chartered Bank, according to Mr Srinivas Rao, Director Sales, Euronet Services India Private Limited.
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