Findi Completes Acquisition of Tata Communications Payment Solutions for $48.3 Million

The Reserve Bank of India has approved the full sale of Tata Communications Payment Solutions (TCPSL) to Australian fintech firm Findi for ₹405 crore (US$48.3 million). This acquisition, conducted through Findi's subsidiary Transaction Solutions International, will increase Findi's brown label ATM network in India from 7,500 to over 12,000 units. Findi aims to leverage TCPSL’s infrastructure to enhance financial services for underbanked communities in India, aligning with its strategy to transition into a payments bank. The deal marks Findi's second significant acquisition this year, following its purchase of BankIT, a digital payments service provider. Findi will integrate over 4,600 Indicash ATMs and deploy an additional 3,000, significantly boosting its operational capacity. This expansion positions Findi as one of Asia's largest ATM operators, enhancing its offerings in the digital payments landscape.