
Australian digital and financial services company Findi says that majority-owned subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI), has received regulatory approval from the Reserve Bank of India for the acquisition of Tata Communications Payment Solutions Ltd (TCPSL).
As part of the approval, the Reserve Bank has also consented to TSI acquiring TCPSL’s White Label ATM licence.
“The approval of the Acquisition by the Reserve Bank of India, which includes the White Label ATM licence and payments switch, allows Findi to proceed with delivering on our FY26 strategy of expanding our co-located physical and digital network of banking solutions throughout India,” said Findi Chairman Nicholas Smedley. “The Board and our entire team in India are all very excited to now pivot from planning into delivery mode.”
“The acquisition of TCPSL is a critical piece in our vision of becoming the most trusted driver of financial empowerment to India’s underbanked and underserved communities,” said Findi CEO Deepak Verma. “TCPSL’s growing franchisee ATMs network gives us the framework to build deeper FindiPay merchant networks and accelerate Findi’s growth.”
“The addition of the payment switch capability enhances our service delivery, enabling us to deliver cash and related financial services seamlessly,” he added. “Finally, we foresee strong synergies between White Label ATMs and our accelerating merchant network across FindiPay and BankIT, empowering our merchants to expand their services and better serve underbanked communities.”
The acquisition reinforces Findi’s focus of growing the ATM network, expanding its product and service offering, building the payments bank ecosystem and driving scale. The Findi board says it is pleased how these acquisitions are coming together to improve growth being experienced by Findi. This combination of organic and inorganic growth will deliver long-term value to Findi’s customers and shareholders.
Findi anticipates the acquisition to complete within the next 60 days.