BANKING AFFAIRS

Detailed explanation-1: -TCPSL is Tata communications payment solutions limited was the first company to get a licence from RBI to open WLA ATM in India in Mumbai. White Label ATM (WLA) is established and run by NBFC(Non-Banking Financial Company).

Detailed explanation-2: -Tata Communications Payment Solutions (TCPSL) was the first company authorized by the Reserve Bank of India (RBI) to open White Label ATMs in the country. It got launched under the brand name ‘Indicash’ in June 2013 and launched the first ATM in a Tier-5 town.

Detailed explanation-3: -The Indicash ATM network is operated and managed by Tata Communications Payment Solutions Ltd. (TCPSL), a wholly owned subsidiary of Tata Communications Limited. Indicash is the largest White Label ATM Operator in the country and the second largest in semi-urban and rural geographies.

Detailed explanation-4: -Typically, white label ATMs, or WLAs, are the ATMs set up and operated by a non-bank. As a customer, one can use these machines just as a regular ATM. WLAs offer debit card services such as cash withdrawal and enquiry.

Detailed explanation-5: -Hitachi Money Spot ATM is the brand of our White label ATM deployment in India. We are one of the select non-bank entities in India that has been licensed by the Reserve Bank of India (RBI) to deploy White label ATMs across the country with a strong focus in Tier 3 to Tier 6 towns.