The 500th India1 ATM was commissioned at Adavuladeevi, a tier 5 town in the Guntur district of Andhra Pradesh- Installed over 500 White Label ATMs are across Karnataka, Tamil Nadu, Andhra Pradesh and Kerala
- Currently connecting over 5 small towns/villages per day.
- Plans to roll out over 9000 India1 ATMs by 2018
- Supporting the Central Government’s Jan Dhan Yojana program and financial inclusion drive by launching over 80% of new ATMs in small towns and villages.
Bangalore, India, November 3, 2014: BTI Payments Private Ltd, ajoint venture betweenBANKTECH Group and ICICI Ventures has successfully completed the launch of 500 India 1 White Label ATMs in the country. The 500th White Label ATM was launched at Adavuladeevi, a Tier 5 town in Guntur district of Andhra Pradesh.
Of the 500 India1 ATMs, over 75% are located in towns with a population of less than 50000 – in line with our vision of bridging the urban rural divide for access to financial services. BTI Payments installed ATMs in small villages like Kirgavulu in Mandya District (Karnataka) and Thally in Krishnagiri district (TN), that saw an ATM for the first time – there by obviating a need to go several kilometers to reach the nearest ATM. India 1 ATMs are very well received in these towns and are witnessing a steady increase in customer franchise every month.
With the launch of India 1 ATMs, BTI Payments also pioneered the concept of “ATM in a Shop”. For the very first time, ATMs are located in kirana shops and other small stores, thereby bringing financial services to the door steps of interior India. Over 20% India1 ATMs are located in telecom/kirana shops.
Speaking on the occasion of the landmark, Mr. K. Srinivas, MD & CEO, BTI Payments Pvt. Ltd. said, “We are delighted to take our services to the heartland of the country. At over 5 new India1 ATMs a day, we are, in our own humble way contributing to the vital agenda of financial inclusion. Embedded into our business model is the larger purpose of bridging the urban rural divide in access to financial services. Of the 500 India1 ATMs that we have rolled out in six months since inception, 3 out of 4 are located in towns/villages with a population of less than 50000, with many ATMs coming up in areas where India1 was the first ATM of the village. Going forward, we will not only reach out to many more villages but also strengthen our focus on other forms of inclusion including easy access to differently-abled people.”
With the announcement of Jan Dhan Yojana by the Prime Minister of India, financial inclusion agenda has moved into a fast lane and BTI Payments is all set to extend its foot print across the country. With a plan to roll out over 9000 India1 ATMs by 2018, BTI Payments is taking a key step towards supporting a financially included rural India.
About BTI Payments
Established in Sydney Australia in 1991, The BANKTECH Group, parent company of BTI Payments, today manages ATM and POS terminals in Australia, India, Hong Kong, New Zealand and United Arab Emirates and has recently established offices in Shanghai, China. The BANKTECH Group established a wholly owned subsidiary, BANKTECH India in 2006 (recently renamed BTI Payments). Head quartered in Bangalore, BTI Payments has emerged from a crowded market as a highly credible supplier of quality managed services for ATMs and POS terminals. With an experienced management and operations team, BTI Payments owns and operates more than 8000 POS terminals and 800+ ATMs for a growing number of respected banks. BTI Payments continues to work closely with our existing bank clients to develop a customized range of products and services to meet their own customer’s needs. In Feb 2014, BTI Payments got the RBI authorization to launch White Label ATMs across the country. www.india1atm.in