The following chart sets forth India’s ATM managed services market segments by service offerings, in terms of
percentage of revenue share for financial year 2021:

     
 

5.2% 3.4% = ATM Site Management
5.9% :
= Cash Management Services
6.0%
aN 40.9% ATM Supply
ps = Transaction Processing

= ATM Repair and Maintenance
= Cash Reconcillation Statement

28.8% = Content and Electronic General
Management

Source: India ATM Market Outlook to 2026, Ken Research, August 2021.
ATM Site Management

ATM site management contributed 40.9% of total revenue of ATM managed service providers. Site
management services include surveillance, electricity payment, consumables, payment of rent, network services
and services such as deployment, management and operationalization of ATMs.

Cash Management Services

Cash management services contributed the second highest share to the ATM managed services market in India.
Revenue from cash management increased from 225,507.8 million in the financial year 2016 to %32,688.8
million in the financial year 2021 at a CAGR of 5.0%. The number of ATMs outsourced to cash management
companies increased from 151,650 as of March 31, 2017, to 163,069 as of March 31, 2021.

ATM Supply

Revenue generated through ATM supply during financial year 2021 was 211,119.8 million which accounted for
9.8% of total revenue of the ATM managed service market. Urban areas have seen lower installations of new
ATMs as compared to rural areas. During financial year 2021, around 32,000 ATMs (including recyclers and
dispensers) were installed, both as new deployments and replacements.

Transaction Processing

Transaction processing has been recorded as the fourth largest category, which contributed 6.0% of total
revenue of the ATM managed services market during financial year 2021. Transaction processing refers to the
switch cost which a bank pays to the gateway companies on a per transaction basis. This service is generally
provided by the banks, but some banks outsource the service as well.

ATM Repair and Maintenance

First Level of Maintenance (FLM) generates approximately 15% to 20% of the service contract value as it
generally involves basic identification of faults to reduce downtime occurring due to cash jamming, card
jamming, network issues, paper jamming and others. Second Level Maintenance (SLM) contributes
approximately 80% to 85% of the service contract value. SLM generally involves the repair of an ATM,
resolution of a technical issue, regular maintenance of an ATM, resolution of problems related to network issues.
in an ATM, annual maintenance contracts, repair of parts and provision of some spare parts. Banks pay for the
majority of the spares which are being replaced in an ATM during the SLM.

Cash Reconciliation Statement
The cash reconciliation statement contributed 5.2% of total revenues of the ATM managed services market
during financial year 2021. Cash reconciliation is processed through the e-reconciliation software which helps

maintain the track records of cash replenishments and withdrawals made from an ATM, among other
transactions. This helps ATM management companies manage the flow of cash in an ATM as ordering excess

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