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Networking
Technology is shaping the growth of the payment cards business like never before. Automated teller machines (ATMs) are getting networked. At this rate, it will be only a matter of time before you can use a credit card issued by a particular bank at any ATM across the country to draw cash or make payments.For example, AmEx has tied up with HDFC Bank for sharing ATMs. And the Visa cardholders, for instance, can access any of HSBC's and StanChart's ATMs. Spinoffs from this will be an increase in the number of ATMs. The installation costs of ATMs for banks will reduce as the break-even will be much smaller. Currently, it costs around Rs 14-16 lakh to install an ATM. It will also not be necessary for a bank to go about installing ATMs all around just to prove they have them.
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