There is a rage in the market of the gradual shift from cash to less-cash, with digital payments platform coming into picture. Especially when post-demonetization, digital payments have trebled in volume and value across various modes from wallets to cards and interbank transfers from a year earlier, 100% rise in PoS along with debit card transactions rose, while ATM transactions remained constant at around 700 million.
For many people, the ATM represents their “bank” far more than rows of tellers standing behind tall counters. The story of the ATM’s rapid rise to ubiquity is also one of a revolution in retail banking. And among many thoughtful leaders, a distinctive portrayer of the revolutionary innovation is Mani Mamallan, Founder & Managing Director of Electronic Payment and Services (P) Ltd, a Mumbai based payment system company. He is the architect of that framework which has revolutionized the banking scenario in India by introducing innovative ATM services.
An Ingenious and Intuitive Leader
Mani is a leader well-known for his business acumen, strategy and vision among peers and professionals in the banking community across India.
With over three decades of experience in Banking, Organization Development, Payment Systems and ATM Outsourcing & Shared Networks, Mani is known as The Architect behind Indian ATM Systems and was honored with the Entrepreneur of the Year 2015 award by Silicon India in December 2015. He has been honoured as one among the Top 35 FinTech Entrepreneurs 2017 by The Smart CEO magazine. In conjunction, he is the first Indian to be nominated as an International ATM Industry Champion in April 2016 by the global ATM Industry Association (ATMIA) with over 7500 members in 65 countries.
Astute Expertise from Various Business Roles
Mani began his career in the banking domain with Indian Overseas Bank, then Punjab National Bank and moved over to UTI Bank (now Axis Bank) as a Senior Manager, where his achievements include setting up the Bank’s ATM Switch, IP network etc. Mani’s core competency is building companies from scratch, from the conceptual stage to transforming it into a leading company with assured revenue streams. Mani’s forté is providing out-of-the-box services and new business models.
Mani founded EPS in 2011; the start-up company quickly witnessed tremendous growth with annual revenues exceeding INR 200 crore at the end of FY 2017, a widening pool of talented resources and an ever-increasing footprint and clientele across India.
Before founding EPS, Mani was the Chief Marketing Officer (CMO) at C-Edge Technologies Limited, a joint venture between TCS and SBI. Prior to joining C-Edge Technologies Limited, he was Sr. Vice President and Head of FSSNeT, the services arm of M/s. Financial Software and Systems (FSS), where he led activities in the payments systems domain.
Footmarks in Various Walks of Businesses
Mani Mamallan has molded EPS to have a firm reputation of delivering quick & reliable business services to most of the Public-Sector Banks pan India. He has proved his proficiency by successfully installing over 4,200 ATMs in rural & urban areas as a part of Indian Government’s Financial Inclusion and Pradhan Mantri Jan Dhan Yojana Scheme which led to a total deployment of 6000 ATMs for 26 PSU banks across India.
With Mani spearheading the organization, EPS in on the Regional Board (India chapter) of the global ATM Industry Association (ATMIA) and an active member of Confederation of Indian Industry (CII), Payments Council of India (PCI), Internet and Mobile Association of India (IAMAI), as well as an advisor on the National Advisory Committee (NAC) of IBEX INDIA.
EPS™: A Payment System Company
EPS was launched to cater to mostly semi-urban and rural markets in India where there was a huge gap between the bank and the beneficiary. The out-of-the box thinking leveraged EPS’s breakthrough into innovation space. This enabled EPS to come out with first of its kind ATM transaction based model known as Disruptive Business Model (Pay per use) which is unique to the world, which led to higher ATM up time for banks and higher revenue streams.
The payment system company is highly specialized and adept at end-to-end large-scale project management and consulting services for ATM Operations & Outsourcing Services and ATM Managed Services thereby enabling banks to concentrate on core banking functions.
The Competent EPS Team
The team at EPS possesses a holistic range of proven skills, industry best practices and sound knowledge of systems integration required for completion of projects within defined timelines. In addition to ATM services, EPS also provides a best-in-class PCI-DSS certified Transaction Switching Solution, which drives all industry standard front-end payment devices. This Solution caters to the demanding security requirements, which is highly reliable and fully EMV Compliant with a high-performance EFT system available in high-volume implementations. EPS’ core values include their ability to understand, deliver and determine the clients’ needs; since trust and respect are an integral part of their teamwork.
Their team of ‘ATM & Payment Technology Evangelists’ has more than 150 years combined industry experience in the retail payment sector and have pioneered various initiatives in the ATM & Payment industry in India i.e. 1st ATM installed in India for HSBC in 1987, 1st shared ATM network ‘Swadhan’ by India Switch Company in 1997, 1st of its kind transaction based ATM business model for Brown Label ATMs in India, deployed the 1st live ATM in Mumbai for the Ministry of Finance Project in July 2012 etc.
Dreaming Big for the Firm
Under Mani’s leadership, the company recently expanded its footprints into Sydney, Australia. This subsidiary company will be known as Electronic Payment Australia PTY Ltd and responsible for professional services in the payments and banking domain for the APAC region.
EPS envisions becoming a leading provider of payments by providing cost effective banking and transaction related services and solutions. It also aims to establish a dependable electronic payment network and be a differentiator in providing electronic payment services.