The Bad PlaceTimes of India | Cash handling companies seek more for ATM refills
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Cash logistics firms that replenish ATMs have petitioned the Indian Banks’ Association, urging banks to raise ATM interchange fees to offset a projected 15‑20 % surge in operating costs driven by fuel inflation, wage increases and higher compliance expenses. The Currency Cycle Association, representing companies such as CMS Info Systems, SIS Prosegur, Brink’s India, Radiant Cash Management Services, Sequel Logistics, SIS Cash Services, Writer Safeguard and Logicash Solutions, warned that rising global crude prices and geopolitical volatility are inflating fuel costs for cash‑van routes, which, together with other expense pressures, threaten the sector’s profitability.
#IndianBanks #CurrencyCycle #CMSInfo #SISProsegur #BrinksIndia
Cash handling companies seek more for ATM refills
MUMBAI: Cash logistics companies, which replenish ATMs, have approached banks seeking measures to offset a sharp rise in operating costs, warning that a combination of fuel inflation, wage hikes and compliance expenses could push industry costs up by 15-20% in the near term. An increase in fees is likely to require a revision in ATM interchange charges that banks pay to other banks for customers using off network ATMs.
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