What is white label ATMs?

What is white label ATMs?

Typically, white label ATMs, or WLAs, are the ATMs set up and operated by a non-bank. As a customer, one can use these machines just as a regular ATM. WLAs offer debit card services such as cash withdrawal and enquiry. Services: Besides dispensing cash, WLAs may also offer many other services and facilities to users.

How do I know if I have white label ATM?

White Label ATMs are like normal ATM. However, cash deposit or cash acceptance facility is not permitted at the WLAs. At White Label ATM you will not find logo of any bank like ICICI, SBI etc. You will find logo of White Label ATM operator on these ATMs.

What is the difference between white label and brown label ATM?

White Label ATM – When ATMs are owned and operated by non-bank entities but they are not doing ‘outsourcing-contract’ from a particular bank. Brown Label ATM – When banks outsourced the ATM operations to a third party. Green Label ATM – ATM is provided for Agricultural Transaction.

Who can use brown label ATM?

sponsor bank
‘Brown label’ ATM are those Automated Teller Machines where hardware and the lease of the ATM machine is owned by a service provider, but cash management and connectivity to banking networks is provided by a sponsor bank whose brand is used on the ATM.

What is the difference between white label ATM and brown label ATM?

Who can set up white label ATM?

Both were granted a licence to set up, own and operate white label ATMs(WLAs). WLA companies are service providers who can set up independent ATM networks, which plug into the banking network and allow customers of any bank to withdraw funds. In return, they would get a fee from the card-issuing bank.

What is brown label ATM in India?

‘Brown label’ ATM are those Automated Teller Machines where hardware and the lease of the ATM machine is owned by a service provider, but cash management and connectivity to banking networks is provided by a sponsor bank whose brand is used on the ATM.

What is a ‘brown label’ ATM?

‘Brown label’ ATM are those Automated Teller Machines where hardware and the lease of the ATM machine is owned by a service provider, but cash management and connectivity to banking networks is provided by a sponsor bank whose brand is used on the ATM. The `brown label’ has come up as an alternative between bank-owned ATMs and ‘white label’ ATMs.

What is the history of the ATM white label system?

Initially, RBI did not permit White label ATMs, and Banks wanted to reduce the operational cost, so they came up Brown Label ATM (outsourcing) system. So in a way, the evolution is: (Bank’s own ATM) => (Brown Label) => (white label)

What are the disadvantages of white label ATMs?

White label ATMs 1. Bank owned / operated ATMs: initially Banks used to take care of all the needs of ATMs. Starting from searching for suitable place for ATM, to, cash management and back end server connectivity. But these costs will amount to lakhs and became huge burden to Banks. This is often seen as detrimental to the spread of ATMs.

What are the different types of ATMs?

Depending upon who manages/operates the ATM, these are classified broadly as three types: 1. Bank owned/operated ATMs 2. Brown label ATMs 3. White label ATMs 1. Bank owned / operated ATMs: initially Banks used to take care of all the needs of ATMs.