Yes Bank to become First Data preferred partner in India for ATM network
02 July 2009 | 1867 views | 0
Source: First Data
YES BANK, India's new age private sector bank, and First Data, a global leader in electronic commerce and payment processing services, today signed a Memorandum of Understanding (MoU) for an innovative ATM deployment programme. In this strategic collaboration, First Data and YES BANK will jointly establish a widespread network of Automated Teller Machines (ATMs) across various cities in India.
This initiative will introduce the concept of 'Convenience ATMs' to the Indian market, and help to expand significantly the availability of ATMs to YES BANK customers and to cardholders of other banks. The emphasis will be on providing ATMs at the most convenient locations for the Indian debit cardholder, enhancing the usage and sharing of ATMs.
Under the terms of this MoU, First Data will leverage its extensive ATM capabilities to support YES BANK in identifying new ATM locations and delivering installation and field management services including 24x7 monitoring and vendor management. The initiative will reinforce YES BANK's strategy of expanding its ATM network in high-density consumer locations such as shopping malls and restaurants and in high street business locations.
Announcing this strategic development, Mr. Rana Kapoor, founder/managing director and CEO of YES BANK said, "The collaboration between YES BANK and First Data is unique and significant in the Indian banking landscape. It is also a significant step forward in meeting the Indian regulators' mandate to provide convenient ATM access to bank customers across India. We are delighted that First Data, as a global leader in ATM deployment and management, has partnered with YES BANK on this important initiative."