India1 Payments Ltd (formerly BTI Payments Pvt. Ltd.) is promoted by The Banktech Group PTY LTD & BTI Payments Singapore PTE LTD and was incorporated in the year 2006 and subsequently invested by India Advantage Fund S3 I, a fund managed by ICICI Venture Funds Management Company Limited in 2013. India1 Payments developed a strong local expertise in the POS industry before steadily expanding into ATM deployment and managed services and subsequently emerged as a leading White Label ATM operator.
Headquartered in Bangalore, India1 Payments Pvt. Ltd. has 12142 ATMs as of 31st Dec 2022, under india1ATM brand. India1 is the 2nd largest Semi Urban and Rural (SURU) ATM brand.
The BANKTECH Group, ultimate holding company of India1 Payments, today is a specialized payment and technology solutions provider across a range of industries and geographies. Established in 1991 BANKTECH became the first independent ATM deployer with the launch of CashConnect ATM network in 1998. Today Banktech Australia owns and operates more than 2,500 ATMs across hotels, clubs and casinos across Australia. Apart from Australia BANKTECH has presence in India, Cambodia and Philippines.
We have focused deploying our ATMs and building our brand in the SURU regions. According to CRISIL Research, our Company was the second largest operator of ATMs in terms of the number of ATMs in the SURU regions as of June 30, 2021. We also intend to leverage our brand and customer base to offer a range of value-added products and services. To that end, we plan to scale up the sale of display advertisements on our machines pertaining to both financial and non-financial products and services, and we are planning to introduce co-branded debit cards with partner banks, offer payment services over our ATMs and offer lead generation platforms (for products like loans, insurance and other products). According to CRISIL Research, our Company was the second largest operator of ATMs in terms of the number of ATMs deployed in the SURU regions as of June 30, 2021. (Source: CRISIL Report, September 2021). We view the SURU regions as the area for strategic growth of our business and have concentrated our new ATM deployment in the SURU regions.
White label ATM operators operate under license by the RBI under the Payment & Settlement Systems Act, 2007, and we have been an authorized white label ATM operator since February 12, 2014. Launched our first ATMs in Gubbi town in Karnataka, and expanded rollout in Tamil Nadu, Kerala, Andhra Pradesh and Uttar Pradesh
With 12142 ATMs, as of 31st Dec 2022, india1ATM is India’s largest WLA operator and the 2nd largest SURU ATM brand. We are present in 16 states & UT focusing on the semi-urban and rural (SURU) markets – which account for 88% of our deployment. The SURU markets are highly underpenetrated with an ATM density of ~7 ATM/ 100,000 population.