Findi Secures Perpetual WLA Licence from RBI to Scale ATM Infrastructure Nationwide


 

Findi Limited (ASX: FND), through its Indian arm Transaction Solutions International (India) Pvt Ltd (TSI), has become one of only five operators in over a decade to receive a perpetual White Label ATM (WLA) licence from the Reserve Bank of India (RBI) This indefinite permit removes the need for periodic renewals and eliminates deployment quotas—granting Findi the regulatory clarity and long-term flexibility necessary for large-scale ATM network expansion.

Originally operating as Tata Communications Payment Solutions Ltd, the entity formally rebranded to Findi India Ltd prior to receiving the licence. Executive Chairman Nicholas Smedley highlighted that this licence reflects the RBI’s confidence in Findi’s governance and enables the company to deploy ATMs in underbanked and rural areas without regulatory constraints

Deepak Verma, Managing Director & CEO, and Hussain Udaipurwala, Chief Business Officer of FindiATM, emphasized that this perpetual licence—secured through a rigorous application process—empowers the firm to invest in last-mile infrastructure and improve service reliability across India, where over 60% of consumer transactions remain cash-based

Findi’s footprint now includes over 14,000 branded ATMs, a merchant network of 189,000, and an annual handling of more than 1 billion transactions. Combined with its brown label ATM operations and acquisitions like Indicash and BANKIT, the perpetual licence places Findi at the forefront of India’s financial inclusion agenda

Strategic Significance:

  • Long-Term Vision & Investment: With licence renewals no longer needed and quotas lifted, Findi gains the certainty required for large‑scale rollout and technological improvement.
  • Deepening Market Reach: The firm can now target underserved markets, extending its ATM footprint into rural and semi-urban India—areas often overlooked by mainstream banks.
  • Foundation for Digital Bank Evolution: This licence supports Findi’s broader strategy, which includes launching a public listing for its Indian entity, and scaling digital banking and merchant payment services in tandem with ATM expansion

Looking Ahead:

Findi’s perpetual licence marks a pivotal moment in its transformation from a payments operator to a national digital banking infrastructure builder. This regulatory milestone brings investor confidence, operational flexibility, and strategic clarity—positioning the company to accelerate its mission of extending financial access across India with both cash and digital solutions.

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