India1 Payments

What India1 Payments does

India1 Payments Limited (formerly BTI Payments Pvt. Ltd., incorporated 2006) is India's largest White Label ATM (WLA) operator, headquartered in Bengaluru. The company is licensed by the Reserve Bank of India under the Payment & Settlement Systems Act, 2007, and has operated as an authorized WLA operator since February 12, 2014. As of September 2025, India1 deploys 14,566 dip-and-draw ATMs across 17 Indian states, with 85% of the network concentrated in semi-urban and rural (SURU) markets — geographies where ATM density is approximately 7 machines per 100,000 population. The ATMs accept all debit cards from all banks in India and offer cash withdrawal (up to ₹10,000 per transaction), balance inquiry, mini statement, and PIN change services through a multilingual interface, with physical security features (privacy screens, keypad shields, electronic surveillance) designed for semi-urban and rural deployment conditions.

The business is promoted by The Banktech Group PTY LTD (Australia) and BTI Payments Singapore PTE LTD, with institutional backing from India Advantage Fund S3 I managed by ICICI Venture (invested 2013). India1's revenue model is anchored on the RBI-mandated interchange fee of ₹19 per ATM transaction (charged to the card-issuing bank), supplemented by display advertising on ATM screens, rental income from property owners hosting machines, and the India1 Pragati Partner franchise program (₹5 lakh investment per partner, with up to 40% earnings share). Management has articulated forward plans for co-branded debit cards with partner banks and a lead generation platform for loans, insurance, and other financial products — both of which would monetize the ATM network's underbanked customer base beyond interchange economics. India1 also operates Paysis Payments Private Limited as a wholly owned subsidiary for broader payment services.

The go-to-market is asset-heavy and channel-partner-driven: in-house ATM deployment in SURU catchments combined with the Pragati Partner program and a "Rent Your Space" property-owner program for site acquisition. Distribution is domestic-only (India). Awards include the NPCI Excellence Award 2017 (Winner's Trophy, White Label ATM Category), presented by the RBI Deputy Governor. The board combines Banktech promoter nominees (David Scott Glen, Peter Alexander Blackett), ICICI Venture nominees (Nikhil Mohta, Kamlesh Dadlani), and independent directors chaired by Natrajan Ramkrishna, with K. Srinivas as Managing Director and CEO since 2013 and Sanjay Bajaj as Group CFO.

Name

India1 Payments

Legal name

India1 Payments Limited

Website

https://india1payments.in

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

251–500 employees

Short description

India1 Payments is India's largest White Label ATM operator, deploying 14,566 dip-and-draw ATMs across 17 states with 85% of machines in semi-urban and rural markets. RBI-authorized since 2014, it serves underbanked Indian consumers with cash access and is expanding into advertising, debit cards, and financial product lead generation.

Ownership category

akta.pro rank

Product category

White Label ATM Services

akta.pro primary industry

ATM Deployers & Managed ATM Services (IAD/ISO) (FSAMAOAC)

Keywords

• White label ATM operator
• ATM network services
• Rural banking infrastructure
• Cash withdrawal services
• Financial inclusion services

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. ATM Interchange Fees: Revenue is generated through interchange fees paid by one bank to another when a debit card is used at an India1 ATM. RBI approved a ₹2 increase in ATM interchange fees to ₹19. This is the primary revenue stream for white label ATM operators.
2. Display Advertisements on ATMs: India1 sells display advertisements on their ATM machines for both financial and non-financial products and services. The company plans to scale up this revenue stream as the ATM network expands.
3. Co-branded Debit Cards: India1 plans to offer co-branded debit cards with partner banks as a future revenue stream leveraging their brand and customer base in SURU markets.
4. Lead Generation for Financial Products: The company plans to offer lead generation platforms for products like loans, insurance, and other financial products over their ATM network.
5. ATM Advertisement Space: Advertisers can advertise on India1 ATM screens and surfaces, providing a revenue stream from businesses seeking to reach ATM users in semi-urban and rural markets.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

India1 Payments operates India's largest White Label ATM (WLA) network under RBI authorization, deploying 14,566 ATMs across 17 states with 85% concentration in semi-urban and rural (SURU) markets. The company offers cash withdrawal (up to Rs.10,000 per transaction), balance inquiry, mini statement, and PIN change services accepting debit cards from all Indian banks, alongside ancillary services including ATM display advertising and a partner franchise program.

Product overview

India1 Payments Ltd operates as a White Label ATM (WLA) operator under RBI authorization, offering a unified ATM network under the India1ATM brand. The core product is the White Label ATM network providing cash withdrawal, balance inquiry, mini statement, and PIN change services. The company is expanding into value-added services including display advertising on ATMs, co-branded debit cards with partner banks, and lead generation platforms for financial products. The company also offers an India1 Pragati Partner Program for franchise partnerships. The network operates across 17 states with 85% deployment in semi-urban and rural (SURU) markets, making it India's largest WLA operator with 14,566 ATMs as of September 2025.

Differentiator

Problem solved

Functional benefit

Products and services

• India1 ATM (White Label ATM Network) White Label ATM network providing cash withdrawal (up to Rs.10,000 per transaction), balance inquiry, mini statement, and PIN change services. Accepts all debit cards from banks in India using dip-and-draw technology for card safety. First five transactions per month are free for savings bank account holders.
• India1 Pragati Partner Program Franchise partner program requiring Rs 5 lakh investment allowing partners to earn up to 40% returns through ATM deployment partnerships in semi-urban and rural markets.
• ATM Display Advertising Display advertisement services on ATM screens and surfaces for financial and non-financial products and services, leveraging the ATM network for brand visibility among semi-urban and rural consumers.
• Rent Your Space Program Program allowing property owners to rent their commercial space for ATM installation, providing India1 with physical deployment locations across India.

Quantifiable outcome

• ATM density in SURU markets is only ~7 ATMs per 100,000 population, indicating massive underserved market opportunity
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Reserve Bank of India (RBI)coreOthers · 12 February 2014India1 Payments is an authorized White Label ATM operator licensed by the RBI under the Payment & Settlement Systems Act, 2007. This regulatory authorization, granted on February 12, 2014, is fundamental to their operating license and business model.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• CMS Info Systems: CMS Info Systems is India's largest ATM managed services and cash management company, providing ATM deployment, operations, and cash replenishment services for banks — closely comparable to India1's WLA operations as a peer in the ATM infrastructure and deployment value chain.
• Vakrangee Limited: Vakrangee Limited has historically operated White Label ATMs in India through its Vakrangee Kendra network targeting semi-urban and rural markets, making it a direct historical peer to India1 Payments in the WLA operator space with similar SURU focus.
• Hitachi Payment Services: Hitachi Payment Services is one of India's largest RBI-authorized White Label ATM operators, directly competing with India1 Payments in deploying and managing WLA networks across the country under similar regulatory authorization.
• Euronet Worldwide: Euronet Worldwide is a global ATM operator and payments processor with significant India presence including ATM outsourcing and cash access services, comparable to India1 Payments in deploying and operating ATM networks in emerging markets.

Broad incumbents

• NCR Atleos: NCR Atleos is the world's largest ATM manufacturer and a major ATM-as-a-Service operator globally. As a broad incumbent in ATM hardware, software, and managed services, it is comparable to India1 Payments as a counterpart across the ATM deployment value chain, though its scope is far broader.
• Diebold Nixdorf: Diebold Nixdorf is a leading global provider of ATM hardware, software, and services to banks and retailers. Comparable to India1 Payments as a participant in the broader ATM infrastructure ecosystem, though it operates as a broad incumbent manufacturer rather than a focused WLA deployer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/india1atm
• Facebookfacebook.com/india1payments
• LinkedInlinkedin.com/company/india1payments
• Instagraminstagram.com/india1payments

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about India1 Payments