Comments
White label operator, Tata Communications Payment Solutions, today partnered with FINO PayTech, a payment technology provider, to set up more ATM services in rural unbanked regions.
Tata Communications Payment Solutions, which operates under the brand name ‘Indicash’, will install ATMs at the existing FINO Money Marts, the retail outlets of FINO PayTech. Similarly, Money Mart points will be placed at the existing Indicash ATM locations, Tata Communications Payment solutions said in a statement.
The Indicash network has rolled out over 5,000 ATMs in 20 states in nearly two years, while FINO has a retail presence across 14 states with over 300 FINO Money Marts in the country.
Money marts provide banking and payment service offerings such as remittance, utility bill payments, bus/train ticket booking, mobile/DTH recharge, micro insurance and international remittance cash out.
The first set of such installations is expected to go live in Gurgaon, Faridabad and Pune and plans are on to extend 100 such outlets with both offerings under the same roof by the end of the fiscal in states like Maharashtra, Uttar Pradesh, Andhra Pradesh,Tamil Nadu, Delhi, Gujarat, Haryana and Karnataka.
This partnership will allow customers to access a range of banking and payment service offerings such as ATMs, domestic remittance, international remittance cash out, utility bill payments, travel bookings, mobile/DTH recharge, online shopping, cash management services and Aadhaar Kendra Services.
Sanjeev Patel, CEO, Tata Communications Payment Solutions, says, “This strategic partnership will not only offer consumers easy access to several banking and value-added services, all under one roof, but also help both the companies expand at a significantly reduced operational cost.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.