Category: Business

Hyderabad, Dec 22, 2014 - ATM manufacturer NCR Corporation is set to roll out new cash transaction solutions for the retail and hospitality sectors.

The company, which has a 44 per cent market share in ATM manufacturing in India, is setting up a manufacturing facility near Chennai to develop cash transaction products for the retail and hospitality sectors, besides ATMs for the banking sector.

Ashok Nallam, Director (Product Management), NCR Corporation India, said the Chennai facility, being set up at cost of $100 million, would be operational by March 2015. “Our existing facility in Puducherry will be shifted to the new facility,” he told media persons here.

The company will roll out interactive ATMs with smart connections and bio-metric validation, besides solar-powered ATMs.

Its R&D centre in Hyderabad, which has completed 10 years of operations, has introduced various innovations adopted by global financial institutions, such as mobile cash withdrawals. “Today over four lakh ATMs around the world run on applications developed by our Hyderabad centre,” he said.

Nallam said the company saw significant opportunities in the ATM market in India, with the number of machines projected to reach four lakh by 2018 fromow 1.60 lakh n.

To mark its 10{+t}{+h}anniversary, the company organised the first edition of TransactEd, an industry connect event focussing on consumer transaction technologies. Business Line

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