· India1 announces the launch of Paysis Payments- a technology arm focussed towards delivering advanced digital payments and transaction processing solutions for banks
· By blending ATM reach with new-age tech, India1 is building a dual growth engine for India’s evolving payments landscape, focusing on Semi Urban & Rural customers.
· New Leadership announcements:
o K Srinivas, Executive Vice Chairman, India1 Payments
o Kumara Krishnan, Director & CEO, India1 Payments (ATM & Retail Business)
o Rajeev Desai, Director & CEO, Paysis Payments Pvt Ltd
o Sanjay Bajaj, Director, Group CFO & Head of Shared Services – supporting both the businesses
India1 Payments Limited, India’s largest White Label ATM Operator (WLAO), today announced the launch of Paysis Payments Pvt. Ltd., a wholly owned subsidiary dedicated to delivering secure, scalable, and inclusive payment solutions. The launch marks a strategic diversification for India1, moving beyond its market-leading ATM business into advanced technology and service offerings to strengthen India’s fast-evolving payments infrastructure.
Over the last decade, India1 has emerged as the country’s largest White Label ATM operator and the third-largest ATM brand overall, with a network spread across 340+ districts and 2,500+ talukas. The company has contributed to 52% of incremental ATM deployments in the last five years, achieving a 20% CAGR, compared to the industry’s muted 1.4%. With India’s low ATM penetration there is still significant headroom for growth.
Building on this strong foundation and to continue its growth momentum, India1 has entered the technology aspect of payments and transactions, through Paysis Payments Pvt. Ltd., a wholly owned subsidiary of India1. Paysis will focus on delivering advanced switching and payment solutions to mid and small sized banks.
As India1 strengthens its dual focus on ATMs and payment solutions, the company has announced a leadership restructuring to drive sharper execution. Kumara Krishnan will take over as Chief Executive Officer of India1 Payments – ATM and Retail Business, leading the core operations with emphasis on profitability and rural reach. Rajeev Desai has been appointed Chief Executive Officer of Paysis Payments Pvt. Ltd., where he will be responsible for scaling the subsidiary into a high-performing payments technology business. Sanjay Bajaj has been appointed as Group CFO & Head of Shared services, supporting both businesses.
Paysis has already signed agreements with a mid-sized private bank and a few cooperative banks, with multiple other discussions underway. With India’s digital transactions growing exponentially, India1 expects Paysis to serve at least 200 banks and financial institutions within five years.
Speaking on the development, K Srinivas, Executive Vice Chairman, India1 Payments, said; “India’s payments ecosystem is evolving at an unprecedented pace, with surging transaction volumes. Many banks, especially in Semi Urban & Rural India are under pressure to join the bandwagon, with their customers demanding on par services with that of larger banks. Paysis has been designed to empower smaller and mid-sized institutions to access robust, enterprise-grade platforms and become their trusted partner in digital evolution. This will ensure that the benefits of financial inclusion extend to every corner of the country.”
Together with its ATM business, the company is building a comprehensive financial inclusion ecosystem that connects underserved communities to modern banking services.