IBM signed INR 2.6 Billion deal with BTI Payments
India: IBM, the multinational
technology company entered into a INR 2.6 Billion deal with BTI Payments. The
term of the project is seven years. IBM will provide ATM infrastructure
management to the BTI payments which already runs over 3,000 white label ATMs
in the country. The financial firm is planning to exceed the number of ATMs to
9,000 by March 2017.
To achieve the set target,
BTI Payments require a partner which provide installment, management,
monitoring, and servicing of the ATM infrastructure efficiently; BTI Payments
will utilize IBM ATM solution.
Further, BTI Payments is
planning to change its model for its ATM assets. Earlier the company was
focusing on the Capital purchase and now planning to the lease & rental
model.
According to TechSci Research, the Indian technology
ecosystem is witnessing multiple deals in financial space. The incremental
demand caused by financial inclusion is compelling the BFSI sector to grow its
technology spending. Further, the new payment and small finance banking
licenses from the central bank opens up the significant opportunities for the
technology players.