Hitachi-Omron Terminal Solutions Corp (Hitachi-Omron Terminal Solutions) has established Hitachi Terminal Solutions India Pvt Ltd (Hitachi Terminal Solutions India) to be based in Bengaluru as an ATM manufacturing company.

• The new company has been set up with a capital of Rs 100 crore and is set a target to produce 1,500 units of ATMs per month at the end of calendar year 2016.
• The new entity is expected to commence production in June 2016.
• Hitachi has deployed over 5,000 units of ATM in India by 2015 and at present, there are about two lakh ATMs and CDs (Cash Dispensing ATMs) operating in the country.
• Hitachi Terminal Solutions India will allow Hitachi-Omron Terminal Solutions to promptly accommodate the needs of the market, strengthen cost competitiveness, shorten the production lead time from order entry to shipment and expand the business of cash recycling ATMs.

Hitachi-Omron Terminal Solutions had entered Indian market on a full-scale basis in 2010 through sales of the cash recycling ATMs.

Did You Know?

• AUTOMATED TELLER MACHINES (ATMs) are data terminals for convenient money transactions. Don Wetzel is credited as the inventor of the ATM.
• The first modern electronic ATM was installed in Enfield Town in North London, United Kingdom in 1967 by Barclays Bank. Instead of cash, though, the ATM dispensed vouchers.
• It’s estimated there are around 2 million ATMs around the globe.
• ATMs are actually kiosk computers with a keypad and screen. The patron is prompted with instructions and given a choice of transactions.