Mumbai, Sept. 14 -- India1 Payments, India's largest white-label ATM (automated teller machine) operator, is undergoing a leadership transition as it pivots towards digital services by launching a banking technology arm to offset sluggish ATM growth in the country.

Long-time chief executive K. Srinivas, who built India1 from a startup into the country's third-largest ATM brand, is stepping away from day-to-day operations. He will continue as executive vice-chairman, steering strategy and regulatory engagement, while "leaving the driving to the younger folks," he told Mint.

In a dual-CEO model, India1's traditional ATM vertical will now be led by Kumar Krishnan, current chief sales and marketing officer, while its new fintech arm, Paysis...