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NCR sells part of its ATM assets to EPS

NCR Corporation announced it has completed the sale of a significant portion of its assets and related customer contracts in respect of its outsourced ATM business in Kerala, Bihar, Jharkhand and Lakshadweep to Electronic Payment & Services, a payment system company headquartered in Mumbai. With this agreement, EPS will be reaching a new milestone by January 2018 to be managing more than 11,000 ATMs in India on behalf of leading banks. Mani Mamallan, chairman of EPS, said the deal is strategic to the company’s growth strategy, as it reiterates EPS’s continued commitment to offer reliable, robust payments services to its customers and reinforcing the relationship with its business partners and stakeholders. Navroze Dastur, MD, NCR India, said the decision to sell a significant portion of the company’s MoF business aligns with its vision to focus on software driven hardware enabled growth supported by end-to-end managed services. India has around 230,000 ATMs and EPS has around 5% of the ATMs in India deployed for various banks under its portfolio.

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