Wincor Nixdorf today announces that it has strengthened its position in the India IT market posting further key successes with banks and retailers in the country.
For example, the Future Group, one of India's largest retail companies, has selected Wincor Nixdorf's retail store software and POS systems. Meanwhile, the first 1,000 ATMs specially developed by Wincor Nixdorf for the India market are currently being delivered to banks across the country.
"As banks and retail companies expand their branch networks and customer offerings across India, we aim to be at the forefront with our innovative IT solutions," said Eckard Heidloff, CEO of Wincor Nixdorf AG, at a joint press conference with the Future Group in Mumbai. Heidloff noted that Wincor Nixdorf already accounts for nearly 20 percent of all ATMs currently installed in India and 25 percent of the installed POS retail systems.
In the future, the Future Group, with more than 600 outlets, will use the same uniform retail hardware and software across all its various formats, including hypermarkets, supermarkets, consumer electronic and sports stores. To support the rapid expansion of its retail operations through a uniform IT infrastructure, the group selected Wincor Nixdorf's Beetle POS systems and TPLinux, an in-store open source software. It will also implement software components for administering entire IT branch operations as well as a business intelligence solution for evaluating customer purchasing trends.
"The management of our stores based on solid data analysis will be of huge importance to the expansion of our retail business," Rakesh Biyani, CEO Retail of the Future Group. According to research by the India retailer, the company was able to reduce the amount of time customers spent at the checkout by 75 percent through the adoption of the POS software and hardware systems.
A key driver for the success of Wincor Nixdorf in India, according to CEO Heidloff, is the company's strategy to expand its business in cooperation with a partner familiar with the local market requirements. Since entering the Indian market 2005, Wincor Nixdorf has collaborated with its strategic India partner AGS Transact Technologies, which employs approximately 1,000 people across the country.
The most recent example of Wincor Nixdorf's successful business development in the banking sector is, according to Heidloff, ATMs specially tailored to meet specific requirements of the India market. Following the launch of the system in May 2010, Heidloff observed delivery of the first of the 1,000 ordered terminals in Mumbai. The ProCash 280 ATM offers proven biometric recognition technology which allows fingerprint recognition and authentication.
With innovative ATM technology, Wincor Nixdorf is able to contribute to financial inclusion in India. Wincor Nixdorf has developed software to transfer cash or remittances to people who do not have a bank account. The cash transfer can be initiated via a variety of retail bank channels, with the receiver collecting the money at the ATM without having to use a bank card. The receiver uses a secure and dedicated password to withdraw the funds at the ATM which is sent via a sms from a mobile phone from the person who initiated the transfer.
This service is especially relevant in a country like India where large numbers of the population do not have access to a bank account or other basic financial services.
Data compiled by British market research company Retail Banking Research (RBR) highlights the potential of the India market. From 2007 to 2009, the number of installed ATMs in India grew from 35,000 to 60,000, according to RBR. During the same period, the number of ATMs installed by Wincor Nixdorf rose from 3,400 to 11,400. This represents a significant increase in market share in India from 10 percent to 19 percent of installed ATMs and there is potential to increase market share further. RBR estimates show that by 2015 the number of installed ATMs could grow to 175,000, which represents an average annual growth rate of 18 percent. Measured on ATM shipments, Wincor Nixdorf recorded market share of 35 percent in 2009 which highlights the company's strong growth performance.
Wincor Nixdorf has also established a successful business with retail companies, becoming the market leader for programmable POS systems. According to the latest RBR research approximately every fourth installed India POS system in 2008 came from Wincor Nixdorf, and this is expected to grow in tandem with India's retail industry expansion. Similar to banks, retail groups are also expanding across India. Not only are the global retail players exporting their successful business models to India but local retailers are also pushing ahead with expansion plans. To compete, they are relying on uniform, efficient IT infrastructures in the branch networks, optimized processes and improved customer service.
"India is an excellent example of how Wincor Nixdorf can participate in the expansion of developing markets and tap into this significant market potential," Heidloff said. "In India, we aim to further expand our presence together with our strategic partner AGS Transact Technologies."