Indian Post Office ATMs will be a reality soon
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When The deal, valued at Rs 30 crores, is estimated to be completed in the next three years. The Department of Post (DOP) presently covers a base of approximately 100 million account holders in India, and is in the midst of a phased deployment of ATMs across the country, to better service their customers. To facilitate production of personalized debit cards that can be used at these ATMs,
Commenting on the deal, Mokam Singh Matta, Head of Card Business, said “Our latest deal with DOP
The personalized debit cards for DOP will be issued on the NPCI platform and their usage would initially only be on ATMs installed at DOP branches, as a closed loop environment. The cards can later be used on other ATMs with Rupay affiliation. These cards will initially be of the magstripe variant, with the option of EMV being available to the account holders after a set period of time.
(Image: Reuters)
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