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PSBs Drive 15,000-Unit Shift to Cash Recycler ATMs
PSBs account for 77% of 15,000 ATM units headed for cash recycler RFPs. The shift from dispensers to recyclers triples unit costs and reshapes the maintenance pipeline.
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More than 15,000 ATM units are expected to come up for request for proposals (RFPs) for cash recyclers, with nearly 77% of these belonging to public sector banks (PSBs), according to industry executives. Punjab National Bank, Union Bank of India and Bank of India are among the lenders expected to issue recycler RFPs.
The shift from simple cash dispensers to recyclers – machines that accept deposits and dispense cash – changes the procurement pipeline for ATM manufacturers and maintenance firms. A recycler unit costs roughly 2-3 times a standard dispenser, which means the total contract value for this RFP cycle could run into several hundred crore rupees.