Electronic transactions vendor Euronet Worldwide is entering the Indian ATM market with a multi-year outsourcing agreement to operate 450 cash dispensers for one of the country's largest private banks.
Euronet says the bank, which hasn't been named, plans to double its current ATM network and add new services to existing units.
As part of the deal, Euronet will deploy 200 bank-owned machines and take over the driving of the bank’s existing 250 ATMs.
Kansas-based Euronet has also announced it has contracted with Hutchison Max Telecom, which operates under the Orange brand in India, for ATM and mobile top-up services.
The vendor says it has signed up two banks to implement recharge services on ATMs, enabling Hutchison subscribers to purchase prepaid airtime at approximately 1000 ATMs.
Customers of the participating banks will also be able to use the units to register for mobile top-up services so they can add pre-paid airtime directly from the mobile phone.
Anthony Grandidge, Euronet Worldwide vice president, Asia Pacific, comments: "India’s financial institutions and mobile operators are open to outsourced solutions, as they aggressively expand their customer bases and strive to increase the number of electronic transactions."