IPO-bound India1 Payment, promoted by Banktec Group of Australia and was formerly known as bti payment, has said it has passed a milestone of deploying 10,000-white-label ATM Which is labeled as India1ATM, which makes it the biggest player in this segment. The company has installed these machines mostly in semi urban and rural areas across 14 states and union territories, and this milestone makes India1 ATM the second largest ATM. white label atm (WLA) brands in semi-urban and rural areas.

As per the latest RBI data till September, there were 2.4 lakh ATMs in the country, of which around 28,00 are white-label machines.

The company has grown by over 15 per cent over the previous year and contributed more than 50 per cent to the incremental ATMs deployed during this period.

India1ATM serves over 72 million customer transactions and facilitates an average gross transaction value of over Rs 13,600 crore every quarter. It began operations in 2014 and has since installed over a third of WLAs.

In September, the Bengaluru-based company filed draft papers with Self For IPO And which is a mix of fresh issue and sale offer by the promoters. The issue comprises fresh issue of equity shares worth Rs 150 crore and offer for sale of 10.31 million shares by existing shareholders and promoters.

India1 Payments Managing Director and Chief Executive K Srinivas said, “Despite the pandemic, we have leveraged our network with an average deployment of 300 ATMs per month in the last four months”.