However, the RBI added that the penalties imposed on the five payment system operators are based on compliance gaps and are not intended to decide the validity of a transaction or agreement entered into by the companies with their customers. The result of the Analytics process is a website loader used to identify websites. We use our own staff, supplemented by an identified group of real estate agents who walk down the street and find the locations closest to those indicated in the move of the location. These could be the common stores of ATM shopping malls and places with a high frequency of visitors such as train station markets, etc. Business Standard has always strived to provide up-to-date information and feedback on developments that are of interest to you and that have far-reaching political and economic implications for the country and the world. Your constant encouragement and feedback on how we can improve our offering has only strengthened our determination and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed with credible news, authoritative views and concise comments on relevant current issues. However, we have a request. As we struggle with the economic impact of the pandemic, we need your support even more so that we can continue to provide you with better quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content.
More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to. Support quality journalism and subscribe to the Business Standard. The press release goes on to say that an external review of SSC operators` business activities revealed non-compliance with the RBI`s instructions on the use of ATMs and the maintenance of net assets. (Only the title and image of this report may have been reviewed by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.) Since different customers have different needs depending on when they started developing their ATM networks, our services are tailored to the specific requirements of the customers. Our offer is perhaps the most complete service on the market. Simply put, we are an All Bank India PVT LTD providing secure, innovative and comprehensive cashless and cashless payment solutions and services. As a pioneer of Indian payments, the offering under the payment platform includes ATM services – Bank & White Lable, banking automation products such as cash recycling machines and ATM software platforms. The offering under the cashless platform includes merchant payment solutions such as point-of-sale services, public transit solutions and merchant aggregation solutions, digital payment platforms and card issuance solutions. It manages over 55,000 ATMs, 10,000 CRM/NNA and 700,000 POS devices (including mobile POS). We offer a full range of services, including selection of ATM locations based on data analytics, rapid implementation of your brand in the ATM center, and 24/7 service delivery through best-in-class automated application systems.
We also enable efficient cash management through the use of complex data analytics, compliance resolution, and dispute resolution management through robust reconciliation, ATM control, and switching via a PCI DSS-compliant switch supported by 100% redundancy in terms of data center and city presence. Four WLA operators were also fined for “breach/non-compliance” of certain provisions of the instructions of the Guidelines on White Label ATMs in India of 20 June 2012. We are one of the selected non-bank entities in India authorized by the Reserve Bank of India (RBI) to deploy white label ATMs throughout the country, with a focus on Tier 3 to Tier 6 cities. The use of white label ATMs will help to: A penalty of Rs 2 crore was imposed on BTI Payments and Hitachi Payment Services respectively and Rs 1 crore on Tata Communications Payment Solutions Ltd and Vakrangee Ltd. Providing details, the RBI said that the on-site inspection of transaction analysts (India) revealed non-compliance with the instructions it issued on escrow account balances, prescribed limits for certain transactions and KYC. The Atmetic Site Identification Team works with brokers and owners to identify due diligence of appropriate locations and submit the site for management approval after negotiations. Given the large number of websites we process, we use an internal web tool for tracking, obtaining permissions remotely and the complete electronic processing of the website. .