Chennai-based Leo Prime Payment Solutions Ltd has designed "next generation ATM" called iATMS (intelligent ATMs) and has established a manufacturing set up to produce 1,00,000 units a year.
The company had been a sub-assembly manufacturer for the world's largest ATM manufacturer but this arrangement was discontinued two years back keeping in mind the company's intention to enter the market on its own, it said.
"As a sub-assembly manufacturer in the past, the company had already invested into machineries and space and has been manufacturing about 100,000 sub-assemblies for exports. Hence the entire set up to manufacture 100,000 units a year is already available," Leo Prime Group Managing Director Vasudevan said in a statement.
Leo Prime has already commenced operations in its manufacturing facility to address the immediate needs. Leo Prime intends to capture market share of 10 percent in FY16 and is exploring exports in 2016-17, Vasudevan said.
