Ever wanted to book airline tickets or pay insurance premiums through an ATM? Wanted to advertise your business or pay bills via an ATM? Now that is all possible and more. Certain non-banking companies have rolled out white-label ATMs (non-bank affiliated) which facilitate all the aforementioned services and bus – cum – train ticketing, remittances etc.
Companies like Tata Communications Payment Services Limited (TCPSL), Muthoot Finance and SREI will set up financial service kiosks and will provide these services. When asked about the financial viability of this venture, they have responded saying that the operating costs will be less than the profits they’d make. They propose to make these services available within 2015. Whether or not they will succeed is too early to comment on but the consumer seems to be the clear winner.
Companies like Tata Communications Payment Services Limited (TCPSL), Muthoot Finance and SREI will set up financial service kiosks and will provide these services. When asked about the financial viability of this venture, they have responded saying that the operating costs will be less than the profits they’d make. They propose to make these services available within 2015. Whether or not they will succeed is too early to comment on but the consumer seems to be the clear winner.
Pranav. R of XII - B
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