Hitachi Payment Services crosses 10,000 White Label ATMs milestone, 27% deployed in South India

Bengaluru, March 26, 2024: Hitachi Payment Services, India’s leading payments and commerce solutions provider, announced that it has completed the deployment of 10,000 White Label ATMs (WLAs) in India, and 27% of these WLAs are deployed in South India. Operating under the brand name Hitachi Money Spot ATM, it has a strong presence in semi-urban and rural areas, enabling wider accessibility and empowering citizens with convenient banking services.

Hitachi Payment Services’ journey as a White label ATM Operator began in 2013 when it was awarded the WLA license. Since then, the company has remained steadfast in its commitment towards financial inclusion and has spearheaded multiple initiatives for its WLA network including deployment of Cash Recycling Machines (CRMs), supporting Interoperable Cash Deposits (ICD). Currently, it is the only WLA operator to offer cash deposit facility.

The company also introduced first-of-its kind UPI ATM on android platform for card-less cash withdrawals. This innovative offering will further drive financial inclusion by facilitating easy access to banking services in areas where traditional banking infrastructure and card penetration is limited. Furthermore, it expanded into the financial inclusion business, offering a range of services such as AEPS, Domestic Money Transfers, Bill Payments, Mobile & DTH recharges and Micro ATM services under the brand Hitachi Money Spot Plus, aimed at driving penetration and enhancing banking experiences.

Mr. Sumil Vikamsey, Managing Director & CEO – Cash Business, Hitachi Payment Services, said, “We are happy to reach the milestone of deploying 10,000 Hitachi Money Spot ATMs. This milestone reaffirms Hitachi Payment Services’ unwavering commitment to promoting financial inclusion through its end-to-end payments and commerce solutions along with a strong emphasis on technology and innovation. By expanding access to banking services in underserved and untapped areas, we continue to empower communities and contribute to inclusive socio-economic growth.”

Mr. Santhosh Nair, Director – WLA Business, Site Acquisition & Projects, Hitachi Payment Services, said, “At Hitachi Payment Services, we are proud to reach the significant milestone of deploying 10,000 Hitachi Money Spot ATMs. We are committed to expanding our services in the remotest corners of the country, having already established a comprehensive presence for WLAs across India spanning 28 states and 6 union territories. This achievement reflects our team’s relentless efforts in providing innovative, efficient and reliable banking services that cater to the varied needs of customers.”

Hitachi Payment Services is a pioneer in the payment industry in India, offering a comprehensive range of end-to-end payments and commerce solutions including ATM Services, Cash Recycling Machines, White Label ATMs, POS Solutions, Toll & Transit Solutions, Payment Gateway Solutions and innovative offerings such as SoftPOS, POS Value Added Services and next-gen mobile based merchant platform. The company has launched an Innovation program to support fintechs and recently acquired a Cash-in-transit company. It is also the largest provider of CRMs through its sister concern’s Make in India initiative.