The Reserve Bank of India (RBI) has approved for Tata Communications to sell its entire stake in Tata Communications Payment Solutions Limited (TCPSL) to Transaction Solutions International (TSI), the Indian subsidiary of Australian fintech company Findi.
Originally announced in November 2024, the deal is valued at ₹330 crore, with an additional ₹75 crore contingent on meeting certain conditions, as per the share purchase agreement signed by Tata Communications.
This acquisition marks a major step for Findi in expanding its presence within India’s financial services sector, with a strong focus on improving accessibility for the underbanked population.
TSI has ambitions to become a full-fledged payments bank and currently manages over 7,500 ATMs, including ‘brown label’ ATMs operated in partnership with 12 banks. Through this deal, Findi will add approximately 3,000 more ATMs to its portfolio, increasing its total network to over 12,000 and making it one of the largest ATM operators in Asia.
Additionally, the acquisition includes over 4,600 operational Indicash ATMs, further strengthening Findi’s service capabilities across multiple segments.
Findi, which pioneered India’s white-label ATM network under the Indicash brand in 2008, continues to expand its footprint in the country’s digital payment and financial services sector. This transaction follows its earlier acquisition of BankIT, a digital payments solutions provider, in early 2025.
For TCPSL, this move signifies a complete exit from the ATM business, allowing the company to shift its focus to other financial services. The decision aligns with RBI’s broader vision to improve ATM penetration across India and enhance financial accessibility.
