K SRINIVAS, Executive Vice -President of India1 Payments
Paysis, a new subsidiary that drove by White Label Atm Major India1 payments, is aimed at on board 200 lenders on his platform in the next two years, said K Srinivas, Executive Vice chairman of India1 Payments.
“We currently have a medium-sized bank and currently few cooperative banks. Of course India1 remains an anchor customer. There are discussions with various other banks. People want to see what we have done further than India1 payments.
Srinivas said that India1 is currently the third largest ATM operator in the country with nearly 15,000 ATMs and the recent increase in the ATM exchange costs helped the company to generate more free cash flow, which led to the establishment of Paysis.
“Thanks to the recently announced hike in ATM-Interchange costs, we helped to earn enough money to expand. This part of the company is a bit in the car pilot mode. We generate enough cash to finance other parts of the business through WLA income. Given the Penetration Lace in the Semii STRATIENTE SEACES is to continue Semii STRATIENTEUS Will continue to concentrate on that, “he said.
Srinivas said that in the past 2-3 years the company has built a robust technological backbone to carry out its network of ATMs, which requires complex switching and technological possibilities. The company now has around 60-person technology team led by Rajeev Desai, who has now been appointed as CEO of Paysis.
Desai said that Paysis will first offer switching services, map management, UPI, Imps and mobile banking to national and cooperative banks.
“Another core product for us is the reconciliation product that is not in good condition for many cooperative banks. We think we will be able to support cooperative, rural banks, credit associations and small NBFCs. This space evolves as a digital currency also a scope. In the future we will develop more such banks” he says. End
Published on September 22, 2025
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