ATM Manufacturers/ ATM Switch (Finacus,
Suppliers (NCR, AGS EPS, ACI, Cashnet,

Payment Network

Transact, Diebold AGS Transact, FSS, oe Me
Nixdorf and others) BANCS) pay, FOSNet)

 

ATM Deployement and Banking (Public Sector
Outsourcing Companies Banks, Private Banks,
(Hitachi, AGS Foreign Banks, CUSTOMER
Transact, FSS, Euronet, Cooperatives, Small
EPS and others) Finance Banks)

 

Service — Software nd Security Services (G45,

Technology (ACI, AGS SIS, Securities India,

Transact, FSS, Euronet, ISS, TOPSGRUP and
TCS) others)

Management
(Brink's Arya, SIS
Prosegur, Writer
Corportaion, AGS
Transact, CMS
Infosystems and others

Cards ~ Debit Cards,
Credit Cards, Pre-Paid
Cards, Virtual Cards
(EPS, AGS Transact,
FIS, FSS and others)

 

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

The number of ATMs in India has been increasing, due to the ease in setting up ATMs under the managed
services and brown-label management models. The number of ATMs being managed by banks has been
continually decreasing due to the advantages offered by other ATM management models, as managed service
providers can take on the burden of managing an ATM, including cash replenishment, service and repair, site
management and other services, and ensuring higher uptime for the ATMs. Out of the total number of ATMs in
India, ATMs managed by banks decreased from 20.6% in financial year 2012 to 9.2% as of March 31, 2021,
showcasing immense potential for MSPs in the ATM industry.

The following table sets forth the number of ATMs under the current ATM management models as of March 31,
2021:

 

 

 

 

 

 

Type of ATMs Number of ATMs
Managed Services (MSPs) 112,720
Brown label ATM/Completely Outsourcing ([ADs) 78,973
Completely Managed by Banks 21,883
White label ATM 25,013
Total 238,588

 

 

 

 

Source: India ATM Market Outlook to 2026, Ken Research, August 2021.
Brown Label ATM Model/CRM Model

The bank contracts the deployment of its ATMs to a vendor or service provider. This is also known as complete
outsourcing or end-to-end deployment of ATMs. Upon winning and entering into a contract with the bank, the
service provider takes the responsibility of searching for suitable ATM sites, surveying for the same and
ultimately leasing the sites. A typical ATM site has a minimum area of 100 square feet with rent ranging
between 29,000 to 25,000 per month.

An ATM dispensing machine is priced between %250,000 to 2285,000 while the ATM cash recycler machine is
priced between %530,000 to 580,000, and is the major cost component in setting up an ATM. Further, the
vendor looks at the décor or building works of the ATM site and electricity supply, and sets up a very small
aperture terminal (VSAT) and lease lines.

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