RBI Awards White-Label ATM License to Mumbai-based EPS Company.

Banking & Finance

The Reserve Bank of India (RBI) has granted a White Label Automated Teller Machine (ATM) License (WLA) to Mumbai-based Electronic Payment and Services Limited (EPS), marking the first such issuance in 10 years. EPS is a privately-owned ATM outsourcing company.


      - The license has been issued under the Payment and Settlement Systems (PSS) Act, 2007, with the main goal of expanding ATM networks in rural and semi-urban areas of India.

      - With this license, EPS becomes the fifth company authorized to operate White Label ATMs in India.

      - EPS aims to deploy 9,000 White Label ATMs nationwide within the first three years under the brand name "EPS Bancs."

Main Points:-   (i) White Label ATMs are owned and managed exclusively by non-bank entities, such as Non-Banking Financial Companies (NBFCs), and are accessible to customers of any bank.

      (ii) Currently, there are four companies operating White Label ATMs (WLAs) in India: Hitachi Payment Services Private Limited, Tata Communications Payment Solutions Limited (TCPSL), India1 Payments Limited (BTI Payments Private Limited), and Vakrangee Limited.

(iii) TCPSL launched India's first White Label ATM, branded "Indicash," in Chandrapada, a small village in Thane district, Maharashtra, on June 27, 2013.
Electronic Payment and Services Limited (EPS)

CMD - Mani Mamallan
Headquarter : Mumbai
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