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Aftermath of demonetisation: Cash crunch hobbles White Label ATMs

Reduced interchange charges have made the sector unviable

Topics
Demonetisation

Nikhat Hetavkar & Mayank Jain  |  Mumbai/New Delhi 

White label ATMs (WLA), which can be set up by non-banking entities, were said to be the future of ATMs in India. However, the industry has seen a handful of players since 2013, when the country’s first WLA was set up by the Tatas’ Indicash.

The cash crunch following demonetisation and transaction fees that do not cover costs are among the reasons why the sector is struggling. The Reserve Bank of India (RBI) had issued WLA licences to set up at least 9,000 ATMs in three years in rural India. Major players including Indicash, BTI Payments ...

First Published: Fri, April 06 2018. 07:05 IST
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