The Tata Group has made a massive move by selling its 100% stake in Tata Communications Payment Solutions (TCPSL) to Transaction Solutions International (TSI), an Australian fintech company. The Reserve Bank of India (RBI) has approved the deal, valued at Rs 330 crore, which will see Findi, a subsidiary of TSI, operate over 7,500 brown label ATMs and 12 banks in India. This is Findi’s second major acquisition in 2025, having acquired digital payment provider BankIT earlier in the year.
Tata Communications, a subsidiary of the Tata Group, had launched India’s first white-label ATM network, Indicash, in 2013. TCPSL has been one of the largest white-label ATM operators in India. With this acquisition, Findi will gain access to a white-label ATM platform, a WLA license, a payment switch, and an extended network of 3,000 ATMs. TSI plans to deploy these ATMs at its 180,000 FindiPay and BankIT merchant outlets, making it one of the largest ATM operators in Asia.
This deal marks Tata Group’s complete exit from the ATM business and is seen as a significant step in Findi’s expansion into India’s financial services sector. The company plans to serve India’s unbanked population through its digital payment solutions. Findi’s growth is expected to be fueled by its expanded network and increased customer base, positioning it as a major player in the Indian payment solutions market.
The acquisition will also enable TSI to diversify its product offerings and further strengthen its position in the Asia-Pacific region. The deal has sent shockwaves in the corporate world, with many industry analysts and experts observing that this could be a sign of the shifting landscape of Indian business and investment.