Bangalore: Muscat Overseas group has picked up a 30 per cent stake in Bangalore-based technology BPO firm aimed at transaction and payment processing services e SSecom Pvt Ltd, which launched operations today (Oct 30) and aims to be a Rs 100 crore firm in the next three years.

Announcing the launch, e SSecom Managing Director K Sambasivan told reporters the firm would provide multi-channel and multi-processing services for the booming bank ATM network and card sales in the country.

"We can invest on ATMs and manage services of banks based on an integrated technology platform for all types of remote customer service delivery based on cards, internet and mobile phone, with the flexibility of options for the client," Sambasivan said.

He said the company had invested about Rs four crore in setting up the infrastructure including a data centre at the International Technology Park in Bangalore and aims to be a Rs 100 crore firm in the next three years.

There are about 10,000 bank ATMs in the country, which Sambasivan said, had the potential to accommodate one lakh ATMs with an annual growth of 40 per cent.

He said e SSecom can handle reconciliation settlements, processing, fee collections, transaction validation, merchant training and acquisition, among others.

The company has about 20 employees, which is expected to grow to about 50 in the next six months.

PTI