The ATM Backbone: Electronic Payment and Services (EPS)

Introduction to Electronic Payment and Services EPS

In the fast-changing fintech ecosystem of India, where Electronic payments are poised to become the backbone of economic transactions, there is one company that has been revolutionizing payment infrastructure silently since 2011. Electronic Payment and Services (EPS), started by Vidya Rani Mani Mamallan, Sanjay Kapoor, and Mamallan Mani, has become a payment technology pioneer, revolutionizing the way banks and financial institutions handle payment processing and ATMs.

What began as a dream to de-clutter payment intricacies has transformed into an inclusive ecosystem that operates more than 12,000 ATMs, servicing 20 prominent banks, and processing 50 lakh transactions through a safe and secure platform. EPS is not only transforming Electronic payments—it's building a new reality for India's financial ecosystem.

Vidya Rani Mani Mamallan, Sanjay Kapoor, Mamallan Mani, Co-founders, EPS

The Challenge of Cash Access

Imagine India's rapidly developing cities in the early 2010s: mobile wallets were gaining traction, but ATMs were few and far between, particularly in Tier II and Tier III towns. For millions of individuals — farmers, wage earners, and pensioners — cash continued to dominate their everyday lives. But reaching it more often than not involved long lines, faulty machines, or far-off bank branches.

In 2011, electronic Payment and Services (EPS) was established to fill this void. Their dream was simple but powerful: to make cash access simple and safe for all Indians, wherever they were.

Innovative Solutions: Brown Label ATM Model

EPS innovated the Brown Label ATM model in India — with a banking partnership to deploy, operate, and maintain ATMs in underbanked markets. Rather than each bank shouldering gigantic one-time costs, EPS managed setup and operations, and the bank retained the customer relationship in Payment.

Their influence has been significant. EPS's strong networmore than 12,000 ATMs penetrates deep into India's interior — allowing farmers to draw out subsidies, elderly to receive pensions, and merchants to receive daily working funds, even in distant villages.

Digital Payment But EPS went beyond ATMs. They became an end-to-end Managed Services Provider to banks, managing everything from card issuing and fraud detection to transaction switching and payment gateway services. Their White Label ATM program created opportunities for non-bank operators to make ATM access even broader.

Financial Performance

In FY23, EPS posted a robust ₹405 crore in revenues on the back of transaction fees, managed services, and fintech new integrations in Digital Payment. With robust governance and PCI DSS-certified procedures in place, EPS has emerged as a reliable backbone for several of India's biggest banks and regional rural banks as well.

Their mission remains unequivocal: in a nation where cash and UPI and cards exist side by side, EPS guarantees that no Indian is excluded from the digital stampede — demonstrating how financial inclusion begins with providing people secure, anytime access to their own money.

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