India1 Payments (formerly BTI Payments Private Ltd) has received a perpetual licence to set-up, own and operate White Label ATMs (WLAs) in India from the RBI.
“The validity of the Certificate of Authorization (CoA) was renewed on a perpetual basis.
“This is however subject to compliance with all regulatory guidelines and the terms and conditions of the original CoA,” according to the WLA operator’s statement.
India1ATMs
The company, which deploys ATMs under the brand name of India1ATMs in the semi-urban and rural areas of the country, has an installed base of 10,710 ATMs across 14 states and union territories in India.
K Srinivas, Managing Director and Chief Executive Officer, India1 Payments, said, the perpetual licence recognises the company’s efforts towards deploying more WLAs and easing access to cash for customers even in the remotest corners of the country.