Discussion
What does O stands for in WLAO with respect to ATMs?
Answer: B
Correct answer: Operator
WLAO is a White Label ATM Operator - a non-bank entity authorised by the Reserve Bank to own and operate ATMs under its own brand.
The cash and the accounts remain with sponsor banks; the operator supplies and runs the machine and earns interchange on the transactions. The scheme was permitted in 2012 specifically to extend ATM coverage into smaller towns and rural areas, where banks had little commercial reason to deploy machines of their own. "White label" means the machine carries no bank's brand.
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