Tata Communications focuses on core growth areas, while TSI gains access to ATM network and payment infrastructure
28 Feb 2025 | 1134 Views | By Shruti Shiraguppi
Tata Communications has completed the divestment of its wholly-owned subsidiary, Tata Communications Payment Solutions Limited (TCPSL), to Transaction Solutions International (India) Private Limited (TSI), a subsidiary of Australian digital payments provider Findi Ltd. The transaction was finalized on February 28, 2025, following regulatory approval from the Reserve Bank of India ...
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Tata Communications has completed the divestment of its wholly-owned subsidiary, Tata Communications Payment Solutions Limited (TCPSL), to Transaction Solutions International (India) Private Limited (TSI), a subsidiary of Australian digital payments provider Findi Ltd. The transaction was finalized on February 28, 2025, following regulatory approval from the Reserve Bank of India and fulfillment of all conditions outlined in the Share Purchase Agreement signed on November 13, 2024.
Tata Communications is now concentrating its resources on high-growth business segments including network services, cloud infrastructure, cybersecurity, IoT, interactions, and media services. For TSI, the acquisition provides immediate scale through access to TCPSL's White Label ATM platform, payment switch, and network of over 4,600 ATMs.
This divestment is part of Tata Communications' strategy to streamline its portfolio and focus on long-term growth areas. TSI, on the other hand, aims to leverage TCPSL's existing infrastructure to strengthen its position in India's financial services sector.
With the acquisition, Findi Ltd gains regulatory permissions through TCPSL's white label ATM license, which will enable the company to expand its financial services offerings to its existing network of over 180,000 merchants currently using its FindiPay and BankIT payment service brands.
The companies have committed to ensuring a smooth transition for employees, customers, and partners following the change in ownership. As of February 28, 2025, TCPSL is no longer a subsidiary of Tata Communications.
This transaction follows Tata Communications' earlier disclosures to stock exchanges in November 2024 and the subsequent update in January 2025 regarding the receipt of a no-objection certificate from the Reserve Bank of India.
Tata Communications, part of the Tata Group, aims to strengthen its position as a global digital ecosystem enabler. The company serves over 300 Fortune 500 companies in more than 190 countries and territories. Its services include collaboration solutions, connectivity services, cloud hosting, security solutions, and media services.