The Directors of Transaction Solutions International Ltd (“TSI”) are pleased to announce that TSI India has signed a third, 9 year agreement with Tamilnad Mercantile Bank (“TMB”), one of India’s fastest growing banks.
Due to a timely and successful phase 1 and 2 rollout program, TMB has again appointed TSI India to deploy, manage and operate a minimum of 100 bank branded ATM sites. TSI continues to be the preferred deployer of TMB ATMs. All ATMs deployed under the agreement will be owned or can be leased by TSI India.
Upon successful completion of the deployment, TSI’s TMB ATM network will have approximately 325 bank branded ATMs, and increase TSI’s total ATM network to in excess of 1000 ATMs.
Tamilnad Mercantile Bank is a fast growing bank in India. Due to high customer acquisition, it is expected the ATM network growth for the bank will continue to grow quickly, with TSI continuing to participate in TMB’s growth in the future.