I was reading CMS infosystems concall. There was a Q on impact of digital – response was that their fees are not based on volume of cash but on the number of points and trips. So even if cash volume is reduced because of digital (assuming digital can never make cash extinct), it would not impact their fees. With the increase in no. Of ATMs and organized retail, they expect buoyancy. Looking at RBI data for no of ATMs and cash withdrawal, yoy seems to be more or less same. Segmental revenue nos show increase for cash business. Thoughts?
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