Tata Communications Payment Solutions has teamed up with FINO PayTech, a payment technology provider, to install Indicash ATMs at the existing FINO retail outlets in rural unbanked regions of India.
As part of the deal, Tata will install ATMs at existing FINO retail outlets, FINO Money Marts, while Money Mart points will be placed at the existing Indicash ATM locations.
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Both the companies are planning to set up 100 such outlets in states like Maharashtra, Uttar Pradesh, Andhra Pradesh,Tamil Nadu, Delhi, Gujarat, Haryana and Karnataka in this current fiscal year.
The first set of Indicash ATMs installations in FINO Money Marts and vice versa is expected to begin in Gurgaon, Faridabad and Pune.
The deal aimed at financial inclusions will enable customers to access range of banking and payment service offerings like ATMs, domestic remittance, international remittance cash out, utility bill payments, travel bookings, mobile/DTH recharge, online shopping, cash management services and Aadhaar Kendra Services.
Tata Communications Payment Solutions CEO Sanjeev Patel said: "This strategic partnership will not only offer consumers easy access to several banking and value added services, all under one roof, but also help both the companies expand at a significantly reduced operational cost."
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By GlobalData
