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Mumbai: A proposal by Indian banks to limit free transactions on automated teller machines (ATMs) to five per month for both their own and other banks’ customers has found few takers, and some critics say such a move would prove counter-productive. Indian banks are lobbying for central bank approval to charge

BANGALORE: Mumbai-based ATM payment solutions company Electronic Payment and Services (EPS) has secured funding of 33 crore from Asia Participation BV, an affiliate of The Hague-based Netherlands Development Finance Company. The Mumbai-based company manages ATM operations for public sector banks in Maharashtra, including their installation and maintenance. Please click here

Mumbai-based payment system company EPS raises over $5M from Asia Participation BY  Sainul K Abudheen Prior to this round, EPS raised two series of funds totalling Rs 53 crore from Aavishkaar. Mumbai-based payment system company Electronic Payment and Services Pvt Ltd (EPS) has secured Rs 33 crore (over $5 million)

Live interview on CNN IBN about security of ATMs. Participants: Rajdeep Sardesai (Journalist) Kiran Bedi (Former IPS Officer) Ashwini Nachappa (Activist) Prakash Joshi (COO of EPS) Please click here for the full video of the interview…

The Indian bank association says ATM security is the responsibility of the bank but is quick to add that no bank is required to provide round-the-clock security at these kiosks, when other security measures are available. Please click here for full article…

The brutal attack on a woman at an ATM in Bangalore has struck fear in the hearts of people everywhere. Though ATMs are the primary source of cash withdrawals today, banks have taken few, if any, measures to protect customers from criminals. For full article please click here…

Mumbai-based Electronic Payments and Services (EPS) has raised $6 million (about Rs 40 crore) in second round of funding from impact investment fund Aavishkaar. Last year the investment firm had pumped in about $4 million (about Rs 27 crore) in the payments services company. EPS, set up in 2011, offers

ATM outsourcing company Electronic Payments and Services (EPS) has raised $6mn (Rs 36 crore) from private equity fund Aavishkaar last week. This is the second round of funding for the start-up which has received the mandate to set up machines all over Maharashtra by public sector banks. Please click here

With a thrust on financial inclusion, banks are focusing on expanding their reach in a cost-effective way. This has spawned the need for heavy investment in technology and electronic payment channels. As banks are looking at such infrastructure as ancillary assets, wanting to focus on core activity, they’re reluctant to