PUNE: Electronic Payment and Services (EPS), a retail banking technology service provider, is diversifying its business by entering the fraud and risk management and transaction processing and enterprise reconciliation markets.
The company has partnered with Morocco-based m2m and Dubai-headquartered Ascent Business Group to use their products for these segments, said Thyagarajan Seshadri, president, banking relations at EPS. Set up in 2011, EPS started out offering end-to-end ATM operations and outsourcing services for public sector banks in India. It currently runs more than 12,500 brown-label ATMs for banks like State Bank of India, Canara Bank and Bank of India.
Brown-label ATMs are owned by banks and the management of these is outsourced to firms like Electronic Payment and Services.