Euronet to deploy and operate ATMs for DCB Bank in India

Tuesday 17 February 2004 11:23 CET | News

Euronet Worldwide, has signed a multiyear ATM outsourcing agreement with Development Credit Bank (DCB), a leading, medium-sized bank in India with a fully computerized network of 66 branches.

DCB currently has 64 ATMs in its network across India in cities including Mumbai, Ahmedabad and Hyderabad. As part of the strategic alliance, Euronet will provide DCB with comprehensive ATM outsourcing and deployment solutions; value-added services, such as mobile top-up; and shared ATM network solutions through Cashnet, the largest national shared ATM network in India, promoted by Euronet Services India Pvt. Ltd. Initially, Euronet will drive and perform day-to-day management for DCBs 64 ATMs. DCB will deploy an additional 36 ATMs to bring the total ATM network of DCB to 100 by March 31, 2004. In this new innovative outsourcing model for India, the ATMs will be DCB-branded but Euronet-owned as part of Euronets bank-branded ATM deployment program, which allows banks to deploy ATMs much faster with an attractive monthly operating cost business model. DCB will also connect its ATMs to Cashnet, the multilateral shared network of ATMs spread across more than 200 cities in India. Through the membership of leading banks including IDBI Bank, UTI Bank, Citibank, Standard Chartered Bank and Corporation Bank, which was the first public sector bank to join the network recently, the Cashnet network now includes approximately 2,500 ATMs. As part of the agreement DCB will be able to offer its customers value-added services such as prepaid mobile phones top-up through Euronets top-up solution. All other value-added services being offered by Euronet such as bill payment will also be extended to DCB customers.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce