Article · Analysis

The ATM interchange conundrum: how to make the channel viable again

Business Standard · business-standard.com Free Intermediate India

A December 2025 analysis of why ATMs are a squeezed business even after the hike to Rs 19: smaller notes and recyclers have raised cash costs, and white label deployers argue the interchange does not cover them.

  • Treat projected ATM returns with caution.
  • Rising cash costs fall on the operator and, through the deal, on you.
  • Location footfall decides whether an ATM is worth hosting.
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The question it answers

  1. How do I start an ATM franchise business in India?

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