Tata Communications finalises sale of payment solutions unit to TSI

Tata Communications has completed the divestment of its wholly owned subsidiary, Tata Communications Payment Solutions Limited (TCPSL), to Transaction Solutions International (India) Pvt Ltd (TSI), a majority-owned subsidiary of Australian digital payments and financial services provider Findi, the company has announced.
The transaction, initially announced on November 13, 2024, has been finalised following regulatory approval from the Reserve Bank of India (RBI) and the fulfillment of all agreed-upon conditions.
“This divestment marks a significant milestone in our journey to streamline our portfolio and focus on areas that drive long-term growth and innovation. We are confident that TSI is well-positioned to drive the next phase of growth for TCPSL and will further strengthen and scale this business, ensuring continued value for customers and stakeholders,” said Kabir Ahmed Shakir, CFO of Tata Communications.
The sale aligns with Tata Communications' strategic focus on high-growth areas, including network, cloud, cybersecurity, IoT, interactions, and media services. The divestment allows the company to concentrate on its core capabilities while unlocking greater value.
For TSI and Findi, the acquisition provides immediate scale and access to a robust ATM network.
“The acquisition of Tata Communications Payment Solutions Ltd is a critical piece in our journey to become the most trusted enabler of financial empowerment for India’s underserved,” added Deepak Verma, MD and CEO of TSI.
“TCPSL’s current ATM portfolio, white label license and Payment Switch give us immediate scale, as well as the ability to deploy ATMs to our merchant network, transforming them to a full stack financial hub, and empowering them to expand their services and better serve underbanked communities,” Vermin added.
The acquisition grants Findi a White Label ATM platform and license, a Payments Switch, and a network of over 4,600 ATMs. Findi will also be able to deploy ATMs to its network of more than 180,000 merchants offering payment services under its FindiPay and BankIT brands.
Both Tata Communications and TSI have ensured a smooth transition for employees, customers and partners.