FIS to rollout out ATMs in India

ATM growth in India

Banking and payment technology provider, FIS, is deploying and managing around 5,500 ATMs in India (view press release). The deployment is part of a pan-India ATM rollout carried out by a consortium of public-sector banks over the next two years. FIS will provide end-to-end outsourcing services including supply, setup and ongoing ATM operation.

India has a strong ATM growth rate, with an increase of about 20% each year, according to CEB TowerGroup’s research director, Nicole Sturgill.  The figures are due to a large population and a small ATM penetration rate, combined with the country’s continued solid economic growth.

India is a very attractive business market, and this announcement further illustrates our commitment to the country. Through this important initiative, FIS will more than double the number of ATMs it supports in India,” said Mark Davey, EVP of FIS International Solutions Group. “This win is a testament to FIS’ ability to leverage our global scale and expertise to solve a local market challenge.

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