An Important Update regarding Indicash

Dear Partners,

We are excited to share some important news that marks a significant milestone in our journey towards enhancing financial inclusion and empowerment in underserved communities.

Today, we announce the launch of FindiATM, the next step in the evolution of Indicash. With the completion of the acquisition of TCPSL by Findi, we are now proud to add TCPSL’s fleet of Indicash ATMs into our existing 12,000+ network of Brown Label ATMs across all major Indian banks (including SBI, HDFC, CBI and UBI).

By integrating TCPSL into our operations, we are not only increasing our ATM presence but also adding a robust payment switching capability. This enhancement will allow us to deliver cash and financial services more seamlessly and efficiently, ultimately improving our service delivery to communities that need it the most.

Furthermore, this acquisition drives synergy with our FindiPay and BankIT merchant networks, enabling our partners to expand their service offerings and better serve their communities. We believe that these developments will significantly contribute to our mission of driving financial empowerment and fostering sustainable growth for all stakeholders involved.

We appreciate your continued support and partnership as we embark on this exciting new chapter. Please feel free to reach out if you have any questions or require further information.

Warm regards,

Hussain Udaipurwala
Chief Business Officer
FindiATM

 

1. Why is this acquisition happening?

  • This acquisition is a part of our mission to deliver financial services to the underserved. The acquisition significantly increases our ATM network, equips us with a payment switch, enhancing our ability to deliver cash and services, and allows us to drive synergies with our FindiPay and BankIT merchant networks.

2. What will happen to my current contract and agreement?

  • All existing Indicash contracts and agreements remain and in place and will continue to be honoured per their terms.

3. Will there be any changes to the services I currently receive?

  • There will be no changes to existing services. However, any interested Indicash Franchisees who wish to expand into Financial Services via Findipay are welcome to write to us at contact@findiatm.com

4. Will there be any changes to the ATM hardware or software?

  • TSPLC’s Indicash ATMs will continue to operate as is while the deal is reviewed by regulators. Post closure of the deal, Indicash ATMs will be rebranded as Findi ATMs. Further details and timelines will be shared at a later date.

5. How will this acquisition impact ATM uptime and maintenance?

  • This deal will not impact our current ATM uptime and maintenance schedules.

6. What will happen to my current ATM service?

  • The current ATM network will continue to operate as is.

7. Will there be any changes to fees or commissions?

  • There will not be any changes to the current structure. Any changes (if at all) will be communicated in due course through appropriate channels.

8. How will this acquisition impact my revenue?

  • There will not be any changes to the current revenue structure. Any changes (if at all) will be communicated in due course through appropriate channels.

9. Who will be my primary contact for support and inquiries?

10. How can I stay updated on the progress of the acquisition?