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You can be an Indicash ATM Franchisee in 4 simple steps:

• Choose from any of the Indicash ATM Franchisee business models:
  • Option 1: Onsite Model where you can select an existing Indicash ATM location for starting a Franchise business.
  • Option 2: Offsite Model where you can propose a self- owned/leased, high footfall commercial space of 60-80 sq ft.
• Once the site is shortlisted, simply enter into a contractual agreement, and complete the onboarding process.
• Make a minimal investment of approx. ₹ 3 lac to run the daily ATM operations and pay one- time refundable deposit of upto ₹ 2 lacs*.
• Get trained, launch the ATM operations, and start earning with every transaction from day one.

*Refundable Security deposit Based on the Business Model

With Indicash ATM Franchisee you can earn with every transaction from day one with no minimum transaction criteria. Depending on the business ownership undertaken by the franchisee partner and the location potential, an ATM franchisee owner can earn a healthy and a steady Return on Investment ranging between 33% to 50% plus. As an introductory offer you can earn up to ₹ 8 for every cash transaction and up to ₹ 2 for every non- cash transaction.

Disclaimer: Return on investment (ROI) projections are based on Business/Market estimates/past performances and does not furnish any type of guarantees or assured returns on the investments. Each Franchisee’s success depends on their individual efforts and circumstances. Tata Communication Payment Solutions Limited (TCPSL), is not liable for any kind of express or implied loss/claims/ damages on investments to franchisee due to any reason which includes but not limited to the data accuracy, availability, any information or the given business projections, the investment decision of the franchisee should be based on their independent business acumen and not to be influenced by any proposed projections.

A minimal investment of ₹ 2 lacs is required, to start your entrepreneurial journey with Indicash, which acts as a security deposit. This is a refundable security deposit, based on the business model chosen:

• Existing Indicash Site – ₹ 2 lac will be refundable
• Franchisee Owned/Leased Site - ₹ 1.5 lac will be refundable

Apart from the security deposit, an additional amount of ₹ 3 lacs will be required, as working capital.

You can share your contact details on our official website: https://indicash.co.in/contact-us/atm-franchise/

Or Call our Toll- free number 1800 2662 660

Our Representatives will contact you shortly as per business requirements.

• Identity and Address Proof (KYC, Electricity Bills for self-owned shops and Landlord agreement for rental space)
• Proprietorship/Partnership/LLP Documents (Trade Name, GST No)
• Bank Account Opening (New bank account tagged for waiver as per 194N)
• Submission of Documents & Agreement
• Payment of Security Deposit (Refundable deposit of ₹ 5lacs in the form of Demand Draft)

An ATM is a computerised machine that provides customers of banks the facility of accessing their accounts for dispensing cash and to carry out other financial & non-financial transactions without the need to visit the bank branch.

If you have an active network of investors or individuals with entrepreneurial mindset and have a sound organisational setup with a team, you can be a Master Franchisee. The investor should be willing to invest ₹ 5 lacs (₹ 2 lacs as deposit, based on business model and ₹ 3 lacs as working capital) to be a Franchisee.

The Master Franchisee has the potential to earn anywhere between ₹ 1 lac to 2 lacs per Month with an active portfolio of 30 to 50 sites. Each Franchisee site should clock in atleast 100 transactions per site per day on a monthly basis.

A Master Franchisee must commit atleast 10 sites per month. The sites should be in high footfall location which would have the potential to approx 100 transactions or more on a daily basis.

The Master Franchise is a mentor and a guide, helping the Franchisee in achieving the desired minimum number of transactions on a monthly basis.

ATMs set up, owned and operated by non-banks are called WLAs. Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI). The list of authorised WLA Operators is available on the RBI website at the link https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043

For a customer, using a WLA is just like using an ATM of any bank.

The rationale to allow non-bank entities to set up WLAs has been to increase the geographical spread of ATMs for increased / enhanced customer service, especially in semi-urban / rural areas.

An ATM is a computerised machine that provides customers of banks the facility of accessing their accounts for dispensing cash and to carry out other financial & non-financial transactions without the need to visit the bank branch.

Balance Enquiry
Mini/Short Statement
PIN change
Request for Cheque Book*
Account Statement Request*

Other services that may be added by NPCI from time to time

Please Note: All of the * marked services can be availed by customers of banks that have enabled these services. (Cash Deposit, Regular bill payment, purchase of re-load vouchers for mobiles are currently not permitted at WLAs).

The ATM / ATM cum debit cards, credit cards and prepaid cards, as permitted by the issuer, can be used at ATMs/WLAs for various transactions.

For transacting at an ATM / WLA, the customer should traditionally have a valid card and Personal Identification Number (PIN). RBI has also allowed card-less withdrawals at ATMs.

PIN is the numeric password which is separately mailed / handed over to the customer by the bank while issuing the card. Most banks require the customers to change the PIN after the first use. Customers should not disclose PIN to anybody, including to bank officials. Customers should change the PIN at regular intervals.

Yes, the cards issued by banks in India can be used at any ATM / WLA in the country.

A transaction carried out at an ATM of the card issuing bank is called an On-Us transaction. A transaction carried out at any other ATM is called an Off-Us transaction. For instance, if a card issued by bank A is used at an ATM of bank A then it is an On-Us transaction; if the card is used at a WLA or at an ATM of any other bank, the transaction is Off-Us.

Yes, a bank must offer to its savings bank account holders a minimum number of free transactions at ATMs as under:

• Transactions at a bank’s own ATM (On-Us transactions) at any location: Banks should offer their savings bank account holders a minimum of five free financial transactions in a month, irrespective of the location of ATMs. Any number of non-cash withdrawal transactions will be provided free.
• Transactions at any other banks’ ATM (Off-Us transactions) at Metro locations: In case of ATMs located in six metro locations, viz. Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, and New Delhi, banks shall offer their savings bank account holders a minimum of three free transactions (including financial and non-financial transactions) in a month.
• Transactions at any other banks’ ATM (Off-Us transactions) at non-Metro locations: At any location, other than the six metro locations as above, banks must offer its savings bank account holders a minimum of five free transactions (including financial and non-financial transactions) at other bank ATMs in a month.

RBI has mandated minimum number of free transactions at ATMs. Banks may offer more number of free transactions to their customers.

The prescription of number of free transactions is inclusive of financial and non-financial transactions at other bank ATMs. However, non-cash withdrawal transactions (such as balance enquiry, cheque book request, payment of taxes, funds transfer, etc.), on own bank ATMs are not to be part of the number of free ATM transactions. Similarly, transactions that fail on account of technical reasons like hardware, software, communication issues; non-availability of currency notes in the ATM; and other declines ascribable directly / wholly to the bank / service provider; invalid PIN / validations; etc., shall not be counted as valid ATM transactions for the customer. Consequently, no charges thereon shall be levied.

Yes, customers can be charged for transactions at ATMs over and above the mandated number of free transactions (as indicated in answer to Q. 11 above). Presently, these charges cannot exceed a maximum of Rs. 20/- per transaction (plus applicable taxes, if any) by his / her bank.

Though banks are supposed to reverse such transactions on their own, it is always a good practice to lodge a complaint with the card issuing bank or ATM owner bank at the earliest.

For any Card, Cash and transactions related issues or complaints, please immediately contact the branch of the card-issuing bank where your account is maintained or its helpline, which can be accessed by visiting the card issuing bank’s website or usually available at the backside of the Debit/ATM card held by the user.

For any information regarding Indicash ATM Services please mail us at feedback@indicash.co.in or call the toll free no. 18002662660

In the case of a failed ATM transaction, the banks have been mandated to re-credit the customer’s account within 5 calendar days from the date of the failed transaction.

Yes, the card issuing bank has to pay compensation of Rs. 100/- per day for delay in re-crediting the customer’s amount beyond 5 calendar days from the date of the failed ATM transaction. The compensation has to be credited to the account of the customer without any claim being made by the customer.

Ans. The customer can approach his / her bank and take up the matter with them. Within 30 days of receiving reply from the bank or in case of non-receipt of a reply from the bank within 30 days, the customer can take recourse to the Banking Ombudsman. The details of Office of Banking Ombudsman are available at the link: https://rbi.org.in/Scripts/AboutUsDisplay.aspx?pg=BankingOmbudsmen.htm or make an online complaint at https://cms.rbi.org.in/cms/IndexPage.aspx?aspxerrorpath=/cms/cms/indexpage.aspx

A card upon expiry of its validity or closure of the underlying account, should be cut into four pieces through the magnetic strip / chip before disposing it off.

The customer should contact the card issuing bank immediately on noticing the loss / theft of the card and should request the bank to block the card.

The Magnetic Stripe card stores card data on the magnetic stripe present on the card while the data in an EMV Chip & PIN card is stored in a chip.

Banks have been instructed to convert all existing Magnetic Stripe cards to EMV Chip & PIN cards before December 31, 2018. If the card holder has not got his / her magnetic stripe card replaced by an EMV Chip & PIN card, he / she should immediately approach his / her bank branch to get the replacement.