What is white label ATM?

Typically, white label ATMs, or WLAs, are the ATMs set up and operated by a non-bank. As a customer, one can use these machines just as a regular ATM. WLAs offer debit card services such as cash withdrawal and enquiry.

What is white label ATM and brown label ATM?

White Label ATM – When ATMs are owned and operated by non-bank entities but they are not doing 'outsourcing-contract' from a particular bank. Brown Label ATM – When banks outsourced the ATM operations to a third party. Green Label ATM – ATM is provided for Agricultural Transaction.

Is the example of white label ATM?

According to RBI, ATMs set up, owned and operated by non-banks are called White label ATM [ WLAs ]. Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI). For a customer, using a WLA is just like using an ATM of any bank.

Which white label ATM is best?

Hitachi Money Spot ATM is the brand of our White label ATM deployment in India. We are one of the select non-bank entities in India that has been licensed by the Reserve Bank of India (RBI) to deploy White label ATMs across the country with a strong focus in Tier 3 to Tier 6 towns.

What is meant by brown label ATM?

'Brown label' ATM are those Automated Teller Machines where hardware and the lease of the ATM machine is owned by a service provider, but cash management and connectivity to banking networks is provided by a sponsor bank whose brand is used on the ATM.

Types of ATM in India - Difference in White Label ATM and Brown Label ATM explained | Economy UPSC

What is pink ATM?

Pink label ATM- These are the ATMs machines that are provided for women. Brown label ATM - Brown label Automated Teller Machines are those ATMs where hardware and the ATM machine's lease are owned by a service provider. However, cash management and connectivity to banking networks is offered by the sponsor bank.

What is green ATM?

SBI's Green PIN facility is an instant PIN generation/regeneration functionality available for Debit Card through ATM with One Time Password (OTP) sent to the customer's registered mobile number. Using the OTP, customer can set debit card PIN through Bank of India ATMs.

Who can open white label ATM?

White-Label ATMs

Non-bank entities are permitted to set up WLAs in India, after obtaining authorisation from RBI under the Payment and Settlement Systems (PSS) Act 2007. Such non-bank entities should have a minimum net worth of Rs 100 crore.

Who provide cash for white label ATM?

A white label ATM operator has to interact with three other intermediaries in the entire transaction process. A typical white label ATM operator operates through a lending bank, a sponsor bank that manages settlements, and an ATM network provider like NPCI.

Can white label ATMs accept cash?

Yes, the cards issued by banks in India can be used at any ATM / WLA in the country.

How many white label ATM companies are there in India?

Number of ATMs in India

As per latest data from the RBI, there were 2.4 lakh ATMs in India, as of September 2021. Out of these, around 2800 are white-label machines.

Which was the first white label ATM in India?

Tata Communications Payment Solutions Ltd. (TCPSL), a subsidiary of Tata Communications, on Thursday, rolled out the first-ever white label Automated Teller Machines (ATMs) network under the brand Indicash.

How do I know if I have white label ATM?

White Label ATMs are like normal ATM. However, cash deposit or cash acceptance facility is not permitted at the WLAs. At White Label ATM you will not find logo of any bank like ICICI, SBI etc. You will find logo of White Label ATM operator on these ATMs.

What are types of ATM?

How do I start my own ATM business?

How many types of ATM are there?

There are two primary types of ATMs. Basic units only allow customers to withdraw cash and receive updated account balances. The more complex machines accept deposits, facilitate line-of-credit payments and transfers, and access account information.

How can I get ATM franchise?

Who controls ATMs in the country Upsc?

Detailed Solution. The correct answer is National Payments Corporation of India. National Payments Corporation of India (NPCI) is the apex authority for maintaining a nationwide link of all the ATMs in India.

What is white label banking?

White label banking is another term for private label financial services or banking-as-a-service (BaaS), in which banks open up their application program interfaces (APIs) to let third parties build their own financial products with existing infrastructure.

Who controls ATM in India?

It was designed, developed and deployed by the Institute for Development and Research in Banking Technology (IDRBT) in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking. It is run by the National Payments Corporation of India (NPCI).

What is NFC in SBI?

The NFC or Near-field communication is a facility available in selected SBI Debit Cards which can be enabled or disabled via Internet Banking. One can make contactless payments with the help of the Tap and Pay feature at the POS machine.

What is a micro ATM?

Micro ATM is a mini version of an ATM. Micro ATMs are like modified point of sales terminals this terminal can connect to banking network via GPRS to perform banking transactions. This machine contains card swipe facility.

What is CBI green PIN?

Green PIN refers to the new way of generating the Central Bank ATM PIN. The process of PIN generation has become easier and secured with Green PIN. Individual can generate the Central Bank Debit card PIN by visiting the nearest ATM, by sending an SMS, calling the Central Bank customer care or via internet banking.

What is worksite ATM?

Worksite ATM:

Worksite ATMs are the ATMs that are located within the premises of an organisation and generally meant only for the employees of the organization.

What is white brand?

White label products are sold by retailers with their own branding and logo but the products themselves are manufactured by a third party. White labeling occurs when the manufacturer of an item uses the branding requested by the purchaser, or marketer, instead of its own.