White Label ATM (WLA)Traditionally, Automated Teller Machines (ATMs) have respective bank?s logo. So just by looking, this is SBI?s ATM, this is ICICI?s ATM and so on.But White label ATM doesn?t have such Bank logo, hence called White label ATMs.RBI has given license / permission to non-bank entities to open such ATMs.Any non-bank entity with a minimum net worth of Rs.100 crore, can apply for white label ATMs. (not just NBFC, any non-bank entity can apply.)Late 80s: first ATM in India; 2012: RBI issues guideline for White label; 2013: RBI gives license/permission.Tata Communications Payment Solutions Limited =the first company to get RBI?s permission to open White label ATMs.They started their chain under brandname ?Indicash?.Other White label= Muthoot Finance, Srei Infra., Vakrangee Software, Prizm Payments, AGS. More than 15 companies given such permission.
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