Over 180 million customers expected to be served annually.
Bangalore, November 22, 2022: Hitachi Payment Services, India’s foremost enabler of both cash and digital payments has announced that it has recently successfully installed the 8,000th Hitachi Money Spot ATM in India, thereby accomplishing a new milestone. Hitachi Money Spot ATMs are White Label ATMs (WLAs) set up, owned and operated by Hitachi Payment Services in India since 2014.
Hitachi Money Spot ATM has grown over 35% in the last 12 months and accounts for over 23% of the total White Label ATMs deployed in the country as on September 2022.
Currently, Hitachi Money Spot ATMs are located pan-India in 29 States and 6 UTs. These ATMs are expected to serve over 180 million customers annually across the country, over 75% of which are in Tier 3 to Tier 6 towns. Through its Social Innovation Business, Hitachi Payment Services has always endeavoured to empower citizens, particularly in semi-urban and rural locations with improved payment infrastructure.
The company continues to focus on the objective of driving ATM penetration to the last-mile of the country and has a strong network Pan India.
Along with regular ATM Services, it also offers 24 X 7 cash deposits at select ATM sites using innovative Cash Recycling and Automation Technology. It further intends to extend these services to more locations, thereby bringing key banking services to the customer’s doorsteps. It has currently deployed over 2800 Cash Recycling Machines.
Rustom Irani, Managing Director, Hitachi Payment Services, said, “Our purpose to escalate the ATM penetration levels in the country, especially in rural and semi-urban regions, will further enable easy access to cash and a host of banking services for the financially underserved. As a leading ATM services provider, we aim to build customer convenience with our state-of-the-art technology and end-to-end services.”
Sumil Vikamsey, Chief Executive Officer – Cash Business, Hitachi Payment Services, said, “We align ourselves with the financial inclusion agenda of the Government, which is to increase access to banking services in untapped and underserved areas. We strongly believe that our Hitachi Money Spot ATMs, backed by our expertise in managing ATM channels for multiple banks, innovative technology and extensive service network, will strongly contribute to this national cause.”
Hitachi Money Spot ATMs help in bridging the banking divide amongst India’s population, by providing a range of banking services including cash withdrawal, cash deposit (at select locations and for select banks), cheque book request, card to card transfer, balance enquiry, mini statement and ATM PIN change.