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RBI Approves Findi's 100% Acquisition of TCPSL for ₹330 Crore.

Banking & Finance | Dated: 07 Feb 2025

In February 2025, the Reserve Bank of India (RBI) approved the acquisition of Mumbai (Maharashtra)-based Tata Communications Payment Solutions Limited (TCPSL), a wholly-owned subsidiary of Tata Communications that operates white-label Automated Teller Machines (ATMs) in India, by Transaction Solutions International (TSI), the Indian subsidiary of Australian fintech firm Findi.

🎯 Key Highlights:

  • - This acquisition strengthens Findi's position in India's financial services sector, expanding ATM accessibility, particularly for underbanked regions.
  • - Initially announced in November 2024, the ₹330 crore (USD 59.1 million) deal includes an additional performance-based payment of up to ₹75 crore (USD 13.4 million), contingent on interchange rate changes.

💡 Other Important Facts:

  • (i) The acquisition grants Findi control over TCPSL’s white-label ATM platform, White Label ATM (WLA) license, and payment switch, adding 3,000 ATMs to its network, expanding its total to over 12,000 ATMs, and making it one of Asia’s largest ATM operators.
  • (ii) TSI plans to deploy these ATMs at 180,000 FindiPay and BankIT merchant locations, while integrating them into Indicash franchises to enhance financial accessibility across India.
  • (iii) TCPSL pioneered India's first white-label ATM network, Indicash, in 2013 to support RBI’s mission of improving ATM access and remains one of India's largest white-label ATM operators.

📚 Test Your Knowledge:

What is the total value of the recently approved Findi-TCPSL acquisition deal?

Correct Answer: ₹330 crore

🚀 Quick Recap: