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ICICI to use ATMs to generate revenue

08-October-2001
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ICICI to use ATMs to generate revenue

ICICI Bank is aiming to add two ATM centres per day. It is also tapping these centres to generate additional revenue. It plans to sell advertising space within the ATM outlets. Advertisers could either use the ATM machine screens for their products or put the brand message on the scrollers strategically placed in the outlets. ICICI has appointed Quantum Media for this purpose.

Quantum Media has struck deals with some corporates to display their brands so that the ICICI customer could sample the products. Recently ICICI has managed to rope in World Space satellite radio at select ATM centres, where customer could listen to the programmes.

The project initiated two months back, has already attracted more than seven companies, including, IBM, Cadbury’s India, Hyundai Motors, General Motors and Essar Cellphone.

A recently study conducted by ICICI and Quantum Media shows that most ATM users are graduates aged between 20 and 45 years. Most of them are working and usage is maximum in the metros and other state capitals.

ICICI charges around Rs 1,800 per for 8-9 second per machine in a month for a brand. ICICI is also using the screens of the ATM machines and the space within the centre to promote its own products like house and car loans, mutual funds, bonds etc.

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