India1 Payments Limited (formerly BTI Payments Private Limited) has received a perpetual licence from the Reserve Bank of India to set up, own and operate white label ATMs (WLAs) in India.
“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,” the company said.
India1 Payments Limited recently crossed the milestone of 10,000 White Label ATMs and has an installed base of 10,710 ATMs. India1 Payments Ltd. deployed over 3,000 new ATMs in the calendar year 2021 and this accounted for 54% of the WLA new deployments. The company deploys ATMs under the brand name of India1ATMs in the semi-urban and rural areas of the country. Since 2014, India1 Payments has deployed over one-third of the total WLAs. The company has been dedicated to improving financial inclusion through the accessibility of our ATM services in the under-penetrated semi-urban and rural areas of the country.
K Srinivas, managing director and chief executive officer, India1 Payments, said, “This perpetual license by the RBI is a monumental step in recognition of our efforts towards deploying more WLAs in the country and easing access to cash for customers even in the remotest corners of the country.”