Corporation Bank joins Cashnet, India''s largest shared ATM Network

By Our Banking Bureau | 02 Feb 2004

Mumbai: Corporation Bank, a leading Indian public sector bank, has joined Cashnet, the largest independent shared ATM network in India. Corporation Bank''s 590 ATMs are now linked to Cashnet''s 1600 ATMs. Cashnet has been promoted by Euronet Services Pvt Ltd

Euronet Worldwide operates the largest independent Pan-European ATM network and is a leading provider of Electron distribution or top-up service for prepaid mobile airtime. It provides secure electronic transaction solutions, outsourcing and consulting services, integrated EFT software, network gateways and electronic top-up services to financial institutions, mobile operators and retailers. These solutions enable customers to access personal finances and to perform secure payment transactions any time, any place.

K Cherian Varghese, Chairman and Managing Director, Corporation Bank, while launching this facility disclosed that it would add another 410 ATMs to its network. The Bank has already introduced various IT enabled products and services and has recently introduced the innovative LIC premium payment facility through its ATMs all over the country.

With Cashnet, the bank now intends to introduce an additional facility to enable its customers to refill their prepaid Mobile Phones through Euronet''s Mobile top-up capability.

Loney Antony, Managing Director, Euronet Services India Pvt. Ltd said, "Corporation Bank has been in the forefront of offering value added services to its customers. It''s a win-win situation for both the organizations. For Euronet''s Cashnet, it adds to the growing number of banks and their ATMs, thereby providing incredible value to the member Banks".