Electronic Payment & Services (P) Ltd (EPS)
The Company behind ATM Revolution in India
The CEO Magazine ● Mumbai
Over two decades, ATMs have changed the landscape of banking industry in India. It is Prakash Joshi, the COO of Electronic Payment and Services (P) Ltd, who has revolutionized the banking scenario in our country by introducing innovative ATM services, thus catering to the need of under and un- banked mass. Having hands- on experience in the ATM business and a keen focus on the Financial Services sector, Mr. Joshi brings over 25 years of credible experience supported by overseas exposure in various trainings and workshops.
With a mission to be a leading provider of banking terminals (ATM) by providing cost effective banking and transaction related services and to establish a dependable electronic payment network, EPS has become a leading retail banking technology and Automated Teller Machine (ATM) services provider. With a collective employee experience of about 150 years, EPS offers a holistic range of ATM Outsourcing operations and Managed Services enabling banks to concentrate on core banking functions. The organization believes in developing strong relationships through transparency and fairness in their dealings with clients, and is committed to a high standard of integrity. Its core values include their ability to understand, deliver and determine what their clients’ needs are, as trust and respect are an integral part of their teamwork.
Headquartered in Mumbai, with a strength of over 180 employees, the team of specialists and professionals driving EPS have pioneered various initiatives in the ATM & Payments industry in India by i.e. first ATM installed in India for HSBC in 1987, first shared ATM network ‘Swadhan’ by India Switch Company in 1997, first of its kind transaction based ATM business model for Brown Label ATMs in India etc. It is also the first company to deploy live ATM in Mumbai for the project of Ministry of Finance in July 2012.
Under the aegis of Prakash Joshi, EPS has built a firm reputation on delivering results, reliability and dependability, having successfully deployed over 5,000 ATMs for 26 public, regional rural and co-operative banks across 28 states in India, in support of the Ministry of Finance (Govt. of India) led mission to drive ‘Financial Inclusion’. The company also holds the record of deploying 1000 ATM machines in sixty days in India in 2013.
The organization conducts rigorous market research to locate a terminus where there are highest footfalls, so that ATM machines have the highest transactions. Serving clients like State Bank of India, Canara Bank, Bank of Maharashtra, Central Bank of India, Bank of India. The company follows a Pay-Per-Use transaction based revenue model, key performance parameters being the transaction success rate and percentage uptime which is different from fixed monthly rentals for ATM outsourced Services. This was an innovation in itself by a start- up first time ever in the global ATM / Payments systems space.
EPS became the first Regional Board Member (India Chapter) of the global ATM Industry Association (ATMIA) in 2015. It also featured in the cover story ‘Enterprise Start-ups to Watch in 2015’ of a leading B2B magazine , for stellar working methodologies and unique innovative practices that can stand the test of time. It went on to win the ‘ATM Consultant of the Year 2015’ award by Consultants Review, India. The recognition as ‘India’s Most Trusted Brand Awards 2015’ was a prestigious award in the category of ‘India’s Best Electronic Payment Services’ by IBC InfoMedia Pvt. Ltd., (a division of USA TV News Corporation). The organisation has been awarded as the ‘Best ATM Services Provider 2015’ at Financial Inclusion & Payment Systems Conference & Awards, India, and ‘Best ATM Managed Services Provider’ in the Payment & Cards Awards 2016, India. Acquiring 100% stake in CISB ATM Services Pvt. Ltd, EPS is now known as EPS ATM Services Private Limited. Recently, EPS was honored with Achievement award by Hughes Communication for successfully deploying over 5000 ATM machines in the shortest span since inception.
Along with delivering value to their clients, they ensure that they do not lose focus of the need to give back to society. Aimed in accordance for development and well-being of the underprivileged, EPS intends to contribute towards the society. They continue to expand their reach and make a difference to society by empowering people and communities at the bottom of the pyramid and providing opportunities to improve standards of living, through reputable NGO’s across India.