In a landmark development, Findi Limited (ASX: FND) (“Findi” or the “Company”) has been granted a perpetual White Label ATM licence by the Reserve Bank of India (RBI), enabling the Company to expand its nationwide ATM network with enhanced certainty and long-term strategic focus. This marks another milestone in Findi’s journey toward becoming a fully-fledged digital bank and cements its position as a leading player in India’s financial inclusion and payments infrastructure.
What the Perpetual Licence Means for Findi
Unlike previous licences that required periodic renewal, the newly granted perpetual licence is valid indefinitely, subject to ongoing regulatory compliance. This effectively removes the need for annual reviews and eliminates deployment quotas, giving the Company more freedom to scale and innovate.
According to the ASX announcement made on 26 June 2025, the licence was approved following the formal renaming of Tata Communications Payment Solutions Ltd (TCPSL) to Findi India Ltd. With this regulatory hurdle cleared, Findi will now shift focus to a more streamlined and scalable ATM rollout across India.
Executive Chairman Nicholas Smedley commented on the development, stating:
“Findi plans to deploy more White Labels across the country and continue its mission to provide financial inclusion to the under banked sections of the Indian population, especially in regional areas.”
This transition from a renewable licence to a perpetual one represents a significant vote of confidence from Indian regulators in Findi’s operational standards and future vision.
Findi Limited’s Executive Chairman Nicholas Smedley
Scaling Nationwide with Confidence
With the new regulatory structure in place, Findi can now streamline its ATM network expansion without facing the administrative and strategic constraints previously imposed by yearly licence renewals and rigid deployment quotas. This also means the Company can invest in infrastructure with a longer time horizon and pursue innovation across its digital banking and payments ecosystem.
Already a dominant force in India’s digital banking infrastructure, Findi operates more than 14,000 branded ATMs and has a footprint of over 189,000 active merchant outlets, processing more than one billion transactions annually.
This perpetual licence allows the Company to deepen its penetration into underbanked and underserved regions of India, reinforcing its mission of enabling financial access in rural and semi-urban areas.
The Broader Strategic Shift: From ATM Operator to Digital Bank
This announcement is more than just a regulatory upgrade—it marks another milestone in Findi’s transition to a full-service digital bank. The Company has been steadily evolving from a payments and ATM operator into a comprehensive provider of digital financial services. With strong digital infrastructure already in place, this development aligns perfectly with Findi’s strategy of integrating White Label ATM services with broader digital offerings, including banking, bill payments, and digital wallets.
The simplification of regulatory oversight also allows Findi to direct more focus towards innovation and expansion, improving customer experience, operational efficiency, and technology deployment.
India’s Financial Inclusion Landscape: A Timely Opportunity
India remains one of the largest underbanked populations globally. Government initiatives like the Pradhan Mantri Jan Dhan Yojana have made strides in encouraging financial inclusion, but gaps remain, especially in rural areas.
Findi’s expanded White Label ATM network plays a crucial role in bridging this gap. By deploying ATMs in areas where traditional banks may not have a presence, the Company not only addresses a social imperative but also taps into an enormous untapped market.
As financial inclusion continues to be a top priority for both regulators and service providers in India, Findi’s operational scale, strategic intent, and now regulatory freedom place it at the forefront of this movement.
Investor’s Outlook: Confidence on the Rise
Findi’s stock has performed strongly of late.
As of 12:19 am AEST on 26 June 2025, FND shares were trading at $4.45, reflecting:
- Day’s increase: 1.60%
- 1 Week Performance: +19.30%
- 1 Month Performance: +6.21%
With 61,801,221 shares on issue, the Company’s market capitalisation now stands at AUD 270.07 million.
This strong market performance indicates growing investor confidence in Findi’s business model and its long-term positioning within India’s digital finance landscape. The perpetual ATM licence is expected to reduce operational risks and increase predictability—two factors highly valued by institutional investors and long-term shareholders.
Final Thoughts
Findi’s acquisition of a perpetual White Label ATM licence is more than a regulatory success; it’s a strategic enabler that unlocks long-term scalability, regulatory clarity, and investment certainty. As the Company deepens its reach across India’s diverse and dynamic financial services market, this licence provides a powerful foundation for innovation, inclusion, and sustained growth.
With its sights set firmly on the future and its feet grounded in one of the world’s fastest-growing digital economies, Findi is well-positioned to shape the next chapter of financial inclusion in India and to deliver long-term value to its shareholders in the process.
To read the full announcement, click Here.
To know more, visit Findi Limited’s official website Here.
Frequently Asked Questions
1.What is a White Label ATM (WLA)?
A White Label ATM (WLA) is an ATM owned and operated by non-banking entities. These machines serve customers of any bank in India, accepting cards from all banks. WLAs do not display any specific bank branding.
2.What is a perpetual White Label ATM licence?
A perpetual White Label ATM licence is a licence authorised by the Reserve Bank of India (RBI) for an indefinite period. The license eliminates the need for periodic renewals and deployment quotas. It provides Findi long-term certainty and strategic freedom for network expansion.
3.How does a WLA operator like Findi make money?
WLA operators, like Findi earn revenue through interchange fees. When a customer performs a transaction, the card-issuing bank pays fee to the WLA operator. Additional revenue may come from displaying advertisements and offering value-added services.
4.Are there free transactions at WLAs?
Yes, customers generally receive a fixed number of free transactions at WLAs. In metro cities, this limit is typically three transactions per month. For non-metro cities, it is usually five transactions. Fees apply for transactions exceeding these free limits.
5.Why does the RBI allow non-bank operators to deploy WLAs?
RBI permits non-bank operators to deploy WLAs to increase ATM penetration and improve financial inclusion. This is especially crucial in rural and semi-urban areas where traditional bank ATMs are less common. WLAs help bridge banking access gaps and offer 24/7 access to banking services for a broader population.
