BTI Payments, a joint venture between Australia-based Banktech Group and ICICI Ventures, is planning to install 9,000 white label ATMs (WLAs) across the India over the next three years.
The white label ATMs are cash dispensing machines that are operated by non-banking firms.
As part of the plan, the company has installed its first WLAs at Gubbi in Tumkur district of Karnataka and plans to further deploy 3,000 WLAs in 2014.
BTI Payments managing director and CEO, K Srinivas, said of the 9,000 ATMs they plan to roll out over the next three years, three out of every four ATMs will be installed in towns with a population of less than 50,000.
"Going forward, BTI Payments will add a number of value-added services like insurance payments, train tickets and mobile payments," Srinivas added.
National Payments Corporation of India (NPCI) CEO, A P Hota, said the white label ATM initiative of the Reserve Bank of India envisions increased access of financial services to underserved markets and segments.

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By GlobalData"NPCI has been at the forefront of this agenda and has launched several easy to use and affordable payments initiatives such as Rupay, IMPS and NFS," Hota added.