Tag Archive | White Label

White Label ATM: An Analysis


White Label ATM or White Label Automated Teller Machines or WLAs in India will be owned and operated by Non Bank entities. It is customer’s friendly and they can withdraw money from any bank, but will need to pay a fee for the services. These white label automated teller machines (ATMs) will not display logo of any particular bank and are likely to be located in nontraditional places.

Reserve Bank of India has authorized three non-banking entities for setting up white label ATMs with a view to increase financial inclusion. Certificates of authorization has been issued to BTI Payments Pvt Ltd, Srei Infrastructure Finance Ltd, and RiddiSiddhi Bullions Ltd.

The concept of White Label ATMs are very popular in Canada. From 2006 , few banks in India trying to introduce WLA through RBI. Read More…