NCR seeks stakeholder talks to fix ATM industry mess

NCR seeks stakeholder talks to fix ATM industry mess
Highlights

Largest ATM supplier NCR on Thursday called for a multistakeholder talks like the ones carried out during the demonetisation days to resolve the problems being faced by the cash vending machines industry now

Mumbai: Largest ATM supplier NCR on Thursday called for a multi-stakeholder talks like the ones carried out during the demonetisation days to resolve the problems being faced by the cash vending machines industry now.

The industry body, Confederation of ATM Industry (Catmi) had on Wednesday warned that nearly half of the 2.38 lakh machines closing down due to regulatory changes making the business unviable which saw reduction in the number of new ATMs installations this year.

“There is a need for the banks, managed service providers (MSPs) and the regulators to discuss and resolve the issues, just like we had done during demonetisation,” NCR MD Navroze Dastur said. Dastur said there can be a working group or a committee to sort out issues.

It is the MSPs and white-label ATM operators which are the most impacted as the costs have gone up without a
corresponding increase in revenues as most of their contracts are linked per transaction, he explained.

PNB not to cuts ATMs

NEW DELHI: Punjab National Bank (PNB) said it has no major plans to reduce the number of its ATMs by March 2019. PNB is one of the largest ATM service providers with 9,428 ATMs on pan-India basis.

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