Electronic and Payment Services Pvt Ltd (EPS), which recently received a white label ATM operator (WLAO) licence from the Reserve Bank of India (RBI), is planning to install 9,000 ATMs across the country in three years, said Mani Mamallan, Founder, Chairman & Managing Director.

Currently, there are four WLA operators (WLAOs) – Hitachi Payment Services, Tata Communications Payment Solutions Ltd, India1 Payments Ltd, and Vakrangee – operating in the country. Collectively, they had about 34,000 ATMs as in July-end 2024.

Mumbai-based EPS, which currently manages over 10,300 ATMs for banks across India, will be the fifth player in the WLAO space to deploy its own ATMs on the ground.

RBI has given a WLA licence after almost a decade. ATMs set up, owned and operated by non-banks are called WLAs.

“We will be deploying about 2,000 odd ATMs by March end, 2025. The technology and infrastructure will be ours. Operation of the technology and infrastructure will be done by individuals, who will be our partners, in the tier III to VI centres. Individuals can make one-time investment (place a caution deposit with EPS) of about ₹5 lakh and become micro-entrepreneurs to run the ATMs. ATM replenishment will happen through EPS’ account with banks. The entrepreneur has to just maintain the machine and ensure that a customer doesn’t go back without cash,” said Mamallan.

ATM-preneurs

Anurag Nigam, Chief Business Officer, observed that EPS’ WLA model will be predominantly franchisee-based, generating adequate employment and partnership in rural areas.

“We want to create local micro-entrepreneurs. They will take care of the ATM site very well...The entrepreneurs will earn money for every transaction. Suppose, the transaction cost is ₹17, an entrepreneur can earn ₹5-6 per transaction.

“We want to create a rural microsystem of entrepreneurs who over a period of time will become self-sufficient. They don’t have to migrate to cities for livelihood,” he said.

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