Tata Comm Payment expects to double revenues this fiscal
TCPSL, the payment technology arm of Tata Communications, is expecting to double revenues this fiscal on the back of sustained income from ATM business, according to a top company official.
New Delhi: TCPSL, the payment technology arm of Tata Communications, is expecting to double revenues this fiscal on the back of sustained income from ATM business, according to a top company official.
"About 80 percent of our income comes from ATM business. Revenue wise we grow at least by 100 percent. Its a growing business.
"We will be growing at 100 percent this year also. The ATM business under brand name Tata is getting us good traction," Tata Communications Payment Solutions Limited (TCPSL) CEO Sanjeev Patel told PTI.
He, however, did not disclose company's revenues at present.
The company has recently got a licence to deploy white label ATMs (WLA) from where customers of any bank can withdraw money.
TCPSL has set target to deploy 50,000 ATMs by June 2016 which will include 15,000 WLA, branded as Indicash and 35,000 bank ATMs branded in name of bank which are managed by company under contract. The company is managing 18,000 brown label ATMs (BLA) at present.
He said while for BLA the company gets either fix monthly charge or cost per transaction from bank, for WLA the company will gets Rs 15 for every cash withdrawal and Rs 7 for balance enquiry.
"The expansion of ATMs will bring us revenue. Our target for next couple of month is to enter Delhi, Uttar Pradesh, West Bengal, Tamil Nadu, Andhra Pradesh and more. Next in line is to launch Indicash ATMs in Kochi (Kerala) and remote towns of Karnataka such as Hubli-Dharwar and Tumkur," Patel said.
TCPSL is also going to start value-added services in the ATMs in next three months to add more revenue from ATM business like bill payments and mobile recharge etc.
"The RBI guidelines allows us to do more than just cash withdrawal. We will definitely start things like couponing and advertisement. We are actually three months from launching any value added service," Patel said.
The company will leverage existing premises of companies under Tata group for setting up WLA and then look at shopping complexes for setting new units, he said.