NCR Corp joins rush with no-frills ATMs at malls

BANGALORE: Malls are driving the growth of many sectors: realty, retail, entertainment, to name just a few. The latest to eye a market for itself is ATM (Automated Teller Machine) provider-NCR Corporation India.

Conservative estimates indicate that India could see upwards of a million sq ft of mall development happening over the next three to four years.

It is hoping to have its no-frills ATM called Aasan (easy in Hindi) installed in virtually thousands across various malls expected to come up in the country within the next few years.
“An ATM like Aasan is best suited for malls as bulk of the transaction would be withdrawals for making payment in stores located in the malls,” said NCR Corporation India MD Deepak Chandnani.

Mr Chandnani said the retail culture was one of the major reasons for the explosive growth of ATMs not just in the US but even in markets like Japan. The US has around four lakh ATMs and estimates indicate that over 15% of these machines are installed in malls and round-the-clock stores like 7-11.