The demand for ATMs is increasing in India. Currently, only 22 ATMs are available per 100,000 people compared to global standards. Banks like SBI offer ATM franchise opportunities to entrepreneurs to meet the demand. An SBI franchise allows you to earn passive income of Rs. 45,000-90,000 per month. With the ‘Digital India’ initiative, more ATMs are needed despite the rise in digital payments. In India, over 80% of ATMs are outsourced by banks to save costs. Four types of ATMs exist: managed services, brown label, bank managed, and white label. The majority are managed services.
Importance of ATM Business Expansion
White Label ATMs have emerged as a game-changer in the Indian banking landscape, significantly enhancing access to banking services for millions of individuals, especially in underserved regions. The concept of ATM Franchise has come as an option where you can have your own business without much risk and at a minimal cost. Setting up an Automated Teller Machine (ATM) is a very fast-growing investment option in India.
Income Potential and Vital Functions
The income potential of one ATM machine in a retail business could be around $450 – $750 per month. White Label ATM (WLA) companies play a pivotal role by seamlessly integrating into the banking network and offering a diverse range of services to customers from any bank. This includes facilitating cash withdrawals, bill payments, and cash deposit services.