ATM Industry has been instrumental in ensuring financial inclusion in India and will continue to do so, said RBI ED Dr Deepali Pant Joshi. Inaugurating the Confederation of ATM Industry’s (CATMi) first annual conference in Mumbai, she said with an increasing surge in day-to-day cash transactions, the Indian ATM industry is surely poised to grow. “High credibility events like CATMi annual conference provide an excellent platform for exchange of knowledge, thoughts and ideas that can benefit all and drastically contribute towards the betterment of the industry,” she added. According to her, there is a need for growing and improving the ATM infrastructure to drive financial inclusion aggressively. Cash recycling ATMs will be the key to manage currency movement effectively, she added.
CATMi president and CEO of Tata Communications Payment Solutions Sanjeev Patel said CATMi is a unified ecosystem platform that can help to positively influence the business and policy issues that affect companies in the ATM industry across India. “Through CATMi annual conference, we aim to discuss and deliberate the issues that affect operating environment, regulations and business enhancements for furthering the ATM industry and financial inclusion in India,” he added.
The conference saw discussions on various aspects of ATM businesses in terms of how ATMs have driven and will drive financial inclusion in India, the future of the ATM channel in India, models that are likely to work, modernizing ATM networks in India, how ATMs and digital/mobile payments will co-exist and future of white label ATMs and challenges.
Representatives from ATM manufacturing and outsourcing companies, white label ATM operators, payment services companies, cash replenishment and cash in transit agencies, ATM security services and solutions companies and banks attended the conference. Among those present were Amit Tyagi, VP & Head – Customer Relations – Payment Management Services, Mphasis, Loney Antony, MD, Hitachi Payments, Himanshu Pujara, MD, Euronet India, and Navroze Dastur, MD – India & South Asia, NCR Corporation.
