The Reserve Bank of India (RBI) has granted approval for Tata Communications to divest its entire stake in Tata Communications Payment Solutions to Transaction Solutions International (TSI), the Indian subsidiary of Australian fintech firm Findi.
Originally announced in November 2024, the deal is valued at Rs 330 crore, with an additional Rs 75 crore contingent on meeting specific conditions under the share purchase agreement signed by Tata Communications. The acquisition marks a significant expansion for Findi in India’s financial services sector, focusing on enhancing access for the underbanked population.
With this transaction, TSI aims to strengthen its presence in the ATM and digital payments ecosystem. The company currently manages over 7,500 ATMs, including ‘brown label’ ATMs operated in partnership with 12 banks. The acquisition will add approximately 3,000 more ATMs, expanding Findi’s total network to over 12,000 and positioning it among the largest ATM operators in Asia.
Additionally, the deal includes over 4,600 operational Indicash ATMs, further boosting Findi’s service offerings. Findi, which pioneered India’s white-label ATM network under the Indicash brand in 2008, continues to expand its footprint in digital payments and financial services. This acquisition follows its recent takeover of BankIT, a digital payments solutions provider, in early 2025.
For Tata Communications Payment Solutions, the move signals a complete exit from the ATM business, allowing it to realign its focus toward other financial services. The decision aligns with RBI’s broader strategy to improve ATM penetration and enhance financial accessibility across India.
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