Over the next 6 months, the Company expects that, given the significant cash resources of TSI India, together with the Reserve Bank of India’s requirement for bank growth, TSI India is in an enviable position to expediently expand its ATM network. This, coupled with plans for seeking appropriate payment technologies so as to leverage its existing Indian financial networks, we expect to see a sound building of investment value for the Company.
The Company is currently in discussions with western companies that provide e-transaction based solutions, such as mobile and online payments, payment gateways and other I.T. based B2B, B2C solutions.
With its current Indian relationships, there is a potential to initially address over 120 million people, and expand beyond this initial base.
TSI has positioned itself very well for growth. As a result of the CX Partners deal TSI India now has access to increased capital of approximately $13.5 million (tranche 1) with approximately $7.5 million (tranche 2) in further funding to follow within 18 months of tranche 1.
TSI India has aligned its strategy to the Reserve Bank of India policy...to bring in another approximate 700 million people in to the banking system. Banks and institutions will be required to expand its bank branch networks and ATM bases to be able to handle larger customer bases.
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