Recently India witnessed the launch of white label ATMs (WLAs) ATMs in the country. WLAs are owned and operated by private non-banking companies. Contrary to the prevalent ATM scenario wherein the ATMs serve as an extended delivery channel for a bank and display respective banks branding, white label ATMs (WLAs) do not display any bank’s branding, as they are owned, set and operated by Private non-banking entities, hence they are termed as White Label ATMs. However WLA ATMs are similar to Bank ATMs. Currently WLAs are seen in global markets like US, Canada and are widely used as an alternative to Bank ATMs.
India is by comparison an underpenetrated ATM market with a total count of over 1.18 lakh ATMs in the country compared to other markets like US with 1390 per 10 lakh of population, UK which has 530 ATMs per 10 lakh of population, and China with around 211 ATMs per 10 lakh of population, India has only 98 ATMs per 10 lakh of population. This clearly indicates that there is huge pote…
India is by comparison an underpenetrated ATM market with a total count of over 1.18 lakh ATMs in the country compared to other markets like US with 1390 per 10 lakh of population, UK which has 530 ATMs per 10 lakh of population, and China with around 211 ATMs per 10 lakh of population, India has only 98 ATMs per 10 lakh of population. This clearly indicates that there is huge pote…