IBM Signs $38 Million Deal for ATM Infrastructure Management in India

Tuesday, January 19, 2016

IBM has signed a Rs 260 crore deal with BTI Payments for ATM infrastructure management, as it focuses on deepening its hold on the financial services sector in India.

With Prime Minister Narendra Modi’s focus on financial inclusion, technology firms are seeing the rise of new players and deals in the Indian financial services space.

“BTI Payments is already running over 3,000 white label ATMs and plans to exceed their target of 9,000 ATMs by March 2017. To achieve this goal, they needed a partner with strong technology credentials to install, manage, monitor and service the ATM infrastructure,” Sanjay Khare, country leader – technical support services for Global Technology Services at IBM India, said in an email. He pegged the deal size at about Rs 260 crore over seven years.

Source: The Economic Times (link opens in a new window)

financial inclusion, fintech, infrastructure