ATM usage per person is falling. But there are many areas of India without ATMs at all.
Changes to interchange rates will mean fewer transactions are required to breakeven on ATM installations. And the white-label approach is cash flow up front - very nice.
The demand per person is shrinking slowly. The number of people that have ATMs available is expanding.
FND Price at posting:
$5.05 Sentiment: None Disclosure: Held
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