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Evolution of the Indian ATM Industry and the Role of Electronic Payment and Services (p) Ltd.

CASE STUDY, BANKING & FINANCIAL SERVICES
ET Cases, 82 Pages
$168.71
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Product code: BFS-6-0009

Abstract

Evolution of the Indian ATM Industry and the Role of Electronic Payment and Services (p) Ltd.

In 1987, the Hong Kong and Shanghai Banking Corporation (HSBC) installed India's first Automated Teller Machine (ATM) in Mumbai, heralding the beginning of the  Indian ATM industry. The Indian ATM industry grew gradually and by 1999, there were 1,521 ATMs installed across the country. The Indian ATM industry witnessed a rapid  growth over the last decade (2005-2015). Being the second most populous country of the world, with around 40% of its 1.3 billion population still unbanked, India offered huge business opportunity for the ATM industry. Government of India's Financial Inclusion Policy , introduced in 2005, further boosted the Indian ATM industry. Resultantly, the number of ATMs in India increased from 17,000 ATMs in March 2005 to 1.8 lakh ATMs in March 2015. As of 2016, India became one of the largest ATM markets in Asia owing to its high economic growth rate of 7% , which is expected to rise to 2.75 lakh ATMs by the end of 2016 and to 5.50 lakh ATMs by 2021.

Amidst the promising industry growth prospects, there is an increasing trend of banks outsourcing ATM services to third party service providers that constitute the ATM Managed Services and Outsourcing Industry. In the backdrop of the Indian ATM industry, this report focuses on the ATM Managed Services and Outsourcing Industry which has several prominent players. From among the various players, the report highlights the significant role of Electronic Payment and Services (P) Ltd. (EPS) in the Indian ATM industry despite it being a start-up.

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