Categories: Banking

White-label ATMs : India1 Payments installed 10,000 white-label ATMs

India1 Payments has crossed a milestone on deploying 10000 white-label ATMs, which was called as “India1ATMs”. India1 Payments is IPO-bound and is promoted by the Banktech Group of Australia. It was formerly known as BTI Payments. India1 ATM has become the second-largest white label ATM brand on semi-urban and rural areas. With the deployment of 10000 ATMs, India1 Payments has become the largest player in this segment.

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White-Label ATMs:

The Automated Teller Machines (ATMs) which are set up, owned and operated by non-bank entities are known as “White Label ATMs” (WLAs). Non-bank entities which are incorporated in India, under the Companies Act 1956, are allowed to run WLAs. Non-bank entities are allowed to set up WLAs across India, after getting authorisation from the apex bank, under the Payment & Settlement Systems (PSS) Act, 2007.

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India1 Payments Limited Founded: 2006;
India1 Payments Limited Headquarters location: Bengaluru.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.