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Dinakar

Stealth • 6m

A story on ATMs - Total number of ATMs India had at the end of fy23 was 1.31 lakhs. These are standalone ATMs that aren't inside a bank's branch. This figure is about 1.5% more than last year. This tiny growth isn't driven by banks, but instead by white label ATM operators(WLAOs). WLAOs are private ATM service providers like Indicash, India 1 payments, Tata communication payment solutions. Why are there WLAOs in the ATM business? Why is it that the banks are not the only players in the ATM business? Well, it's because of a simple thing, and it is that ATMs were cutting into the bank's profits. So in 2012 for further expansion of ATMs, RBI allowed private players to hop into It. The number of players has halved since 2012 due to lack of profitability and the remaining ones are demanding for a transaction fee raise. (First time writing here, didn't check the word limit. Unfortunately I can't complete what I wanted to write 🥲.)

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