RBI allows white label ATMs to accept international cards
- Livemint" target="_blank">Livemint
- December 8, 2014
Mumbai: The Reserve Bank of India (RBI) on Friday allowed third-party white label automated teller machines (ATM) to accept international cards, including international prepaid cards, and said white label ATMs can now tie up with any commercial bank for cash supply.
The currency conversation rate will be fixed by a local bank, RBI said in a notification on its website.
White label ATMs are operated by independent operators, usually through tie-ups with particular banks, where the bank’s ATMs could be used.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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