Euronet Worldwide, a leading electronic payments provider, has signed a multiyear ATM outsourcing agreement with a large multi-national bank in Mumbai, for its existing nationwide network of 245 ATMs.

However, the name of the contracting bank remains undisclosed at the bank's request, a release said.

The deal enables Euronet to take over the operation of 245 existing ATMs from the bank in major cities across India before the end of 2004.

Outsourcing and India: Complete Coverage

Euronet will provide ATM driving services from Euronet's operations centre in Mumbai and will provide all day-to-day outsourcing services, including transaction processing, network management and monitoring, security, cash forecasting and replenishment, help desk, incident management, maintenance and full reconciliation and settlement services.

"Through this new agreement we will allow the bank to focus more resources on its core business and leverage the capabilities of Euronet in India, said Daniel R Henry, Euronet Worldwide president and chief operating officer.