Ann: TSN Raising $1.7 Million With Strong Institutional Support-TSN.AX, page-178

Tony,

The pilot with SREI will be completed this month , so hopefully some more news comes out about that.
TSI INDIA ANNOUNCES STRATEGIC TIE UP WITH SREI INFRASTRUCTURE
FINANCE CORPORATION
(WHITE LABEL ATM DEPLOYER - 9,000 ATM R.B.I. LICENSE)

•  TSI India secures agreement to provide SREI Infrastructure Finance Corporation (SREI) a complete ATM outsourcing platform solution including transaction processing, fully compliant with RBI guidelines for ATM white label deployment
•  SREI, a publicly listed company on the London Stock Exchange and Bombay Stock Exchange, is
•  TSI India to showcase its expanded capabilities and adds financial processing and switching to its wide
  ranging services
•  Letter of Intent with SREI for initial pilot of 50 ATM’s with installation to be completed in August 2016
•  TSI India to earn revenues on a cost plus model
  Transaction Solutions International Limited ("TSN") is pleased to announce the completion of a signed Letter of Intent (LOI) by Indian-focussed Automatic Teller Machine (ATM) and electronic payment and financial services company, TSI India, to further increase the company’s strong footprint in the emerging Indian e- transaction market. TSN and its subsidiaries hold a 24.89% equity interest in TSI India.
  Under the LOI with SREI Infrastructure Finance Corporation (SREI), one of India’s largest and leading Infrastructure groups established since 1989 and publicly listed on multiple exchanges, TSI India will provide a comprehensive ATM outsourced platform solution including all managed services to SREI. This includes financial processing and switching of SREI’s ATM transactions on its network. Financial processing and switching allows for the authorisation of transactions to occur and be processed in order for settlement to happen between parties.
  Since increasing its suite of services to include a full managed services platform in April 2016, TSI India has now achieved another company first by extending its suite of services to incorporate control of financial transactions. This provides another layer of potential revenues to be realised, and increases TSI India’s competitiveness in the market.