After demonetization, India is continuously moving towards a cashless society. Today we will talk about one more outstanding service that empowering a cashless society dream in India.
Micro ATM is a device that is used basically by business correspondents at retail Kirana shop or emitra to offer banking services as AEPS and money transfer. It is also known as an automated teller machine which is used for money dispenser.
In easy words, we can say it is a small version of ATM where we can withdrawal money by using a debit card. Now we will learn how this micro ATM machine works and what is its price. AEPS stands for the Aadhaar enabled payment system. It is a new age of cashless transaction in which a bank customer whose account linked with Aadhaar card can use all basic banking services using 12 digit Aadhaar card number and finger-print authentication.
This is such a great cashless transaction service that is helping to create a cashless economy in India. A man can withdrawal money by using Aadhaar card through AEPS service but If anyone has a debit card then how they can withdrawal money in rural areas. To solve this, banks can install ATMs in rural areas so that people can withdrawal money but it is so costly and its maintenance also very costly.
Especially, in rural area s where banks are unable to reach, micro ATM easily can penetrate through business correspondents. Here we will learn how this micro ATM works. How you can withdrawal money using this. So by following the above steps you can withdrawal money using this solution.New mPOS SWIPE MACHINE/pay point india aadhar micro atm
We can say this is an extra-ordinary alternative of ATM which is very trending in rural areas. If we talk about micro ATM price, it is variable and changes with different brands.
Ezulix software is one of the best micro ATM machine provider company in India. We provide you advanced micro ATM service with unique features. So these are some features which help you to attract more customers towards your service. Along with this, we facilitate AEPS servicemoney transfer servicebill payment servicemobile recharge serviceand pan card service to explore your business.
So here we learned what is micro ATM, micro mini ATM machine, why this service invested and how you can withdrawal money using this. Along with this, we discussed important features of micro ATM that helps you to attract more customers. We understand your business needs and create the best solution for you which helps you to boost your business performance. Your email address will not be published.
Save my name, email, and website in this browser for the next time I comment. Skip to content.ATM as we know them are cash dispensers. Pay Point India ATM s are hand held point of sale terminals used to provide financial services in remote locations where bank branches and ATM are difficult to establish. Through a Pay Point India ATM one can connect remotely to the banks core banking system and perform financial transactions using fingerprint authentication.
These machines are typically used by business correspondents. You can carry out rechargesbill payment services for all the telecom operators and utility providers. Have a requirement? Get Best Price. View Complete Details. Contact Seller Ask for best deal. Get Latest Price Request a quote. Civil Lines, Allahabad, Uttar Pradesh. View Mobile Number. Ask for more details from the seller Contact Seller.
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All rights reserved.BANKIT's vision is to build an extensive public banking infrastructure that not only provides quality banking services, but also is available to ordinary citizens in urban and rural India.
Aadhaar micro ATMs: All you need to know about this cardless, pinless banking
All in all, this is one of BANKIT's missions to bridge the gap between the availability and accessibility of ordinary citizens providing simple banking services. As India's first interoperable operating system, it is a banking innovation that can serve any bank customer though our portable device with debit card interface. The Micro ATM is invented to help people of the rural area for the financial inclusion.
However, in heavy cash crunch problem like today these types of Micro ATM Machines is boon to everyone. Apply online at www. You can use Micro ATM to expand banking services anywhere in remote areas This is a low-cost option for existing ATMs Micro ATM is a portable device Easy to carry, easy to set up anywhere in remote areas Interoperable equipment that can work for any bank Helping people to be useful in the process of demonetization The Micro ATM is invented to help people of the rural area for the financial inclusion.
Become a Retailer and earn upto Rs. Enroll Now. Call Now. Select General Grievance Complaints. Download App For Bankit Agent. Download App For Bankit Pay.BenefitsOfAadhaar " pic. You might have used a POS device in a super market while making a card payment. These machines allow you to make a transaction with your card, whereas in the case of a MicroATM, you will not require a card or Pin.
This will allow the customer to perform basic banking transactions using only their Aadhaar number and fingerprint as identity proof. MicroATMs have human bank representatives or a business correspondents in case of shops. These representatives collect the deposits from customers or pay the cash on withdrawal. The data regarding the transaction is fed into the machine and that will debit or credit your bank account.
The machine will also print a receipt showing your balance. Since your fingerprint is used for verification, there is no need for a debit card or pin to access the funds in your bank account.
ATMs suspending cash are expensive. The machine costs over Rs 2 lakhs and requires over Rs 20, in monthly maintenance charges. It proves viable only if a minimum of 80 to transactions are performed per day. This is especially not feasible in rural areas where the population is fairly low. The downside is that is it not possible to use these for 'anytime banking' as the representatives may not be available as and when you need them.
For Quick Alerts. Subscribe Now. For Daily Alerts. For investment related articles, business news and mutual fund advise. Allow Notifications. You have already subscribed. Equity Mutual fund.SBI Kiosk Banking BC model aims to provide a real time, user friendly banking services to the consumer in their neighborhood. As per this arrangement Pay Point India is authorized to provide Kiosk banking service to its present retail network and create new Kiosk Banking agents across the country.
A large number of people, particularly the migrant laborers and factory workers do not have a saving account and even not able to open an account due to lack of valid address and ID proof. As a result they face difficulties to save their earnings in a safe place and look out for solution to send money to their families. Through the Kiosk banking solution the following services can be offered:. Click here to Register. Toggle navigation. What does the retailer need? What documents are required?
Shop Address proof Resident address Proof electricity bill, ration card etc. Related Pages.
IDFC Bank to set up 30,000 micro ATMs and 75,000 Aadhaar Pay merchant points in two years
Please specify Name. Please specify email Please enter valid email. Please specify telephone number Please enter valid telephone number. Please specify city name. Pay Point India Pvt Ltd.Banks, financial entities and insurance companies are progressively moving towards taking services closer to their customers. Customer registration right from the field, doorstep banking and biometric-based authentication systems are examples of outreach initiatives that these financial institutions have begun to employ to expand services to the doorstep of the customer and improve the level of customer convenience and service.
Increasingly, customers are expecting, nay demanding, that their transactions get fulfilled at their locations and not at distant places. Financial institutions are also becoming aware of the immense opportunities that such customer-convenient transaction fulfilment processes open up for them.
Financial institutions are interested in on-boarding new customers by capturing their key attributes and essential documents through field-level systems having intuitive interfaces. Once a customer is on-boarded into the financial system through the eKYC setup, the next stage is transaction fulfilment. Device security is ensured by having a security key for each HHT.
This way, only the authorized agent of the financial institution is allowed to carry out field transactions. Loan collection can be handled under the cash deposit function. Enterprise Management. Micro ATM Banks, financial entities and insurance companies are progressively moving towards taking services closer to their customers. Application Features Highly configurable management panel with role-based access and well-defined agent management process to set transaction limits, agent commission and daily limits.
User-friendly and rich graphical interface for agents. Middleware provides flexible, reliable and convenient mechanism for connecting handheld terminals to CBS. Middleware is designed to minimize the overall data transfer sizes leading to reduction in network load. Built around industry-standard ISO message protocol. Real time process ensuring instant customer notification. Ability to interact with different external systems over intranet and internet. Can be enhanced to support bill payment and eGovernment payments.
Benefits Ease of carrying out transactions right at the doorstep of the customer with great reduction in paperwork.PayNearby, the hyperlocal fintech network builder, on Monday said it has launched its own mirco ATMs at retail shops to address the issue of money dispensing machines running dry, and aims to deploy 1 lakh terminals in the first year.
With the launch of micro ATM business terminal, PayNearby has strengthened its product portfolio of money withdrawal services. Now along with Aadhaar enabled money withdrawals, PayNearby retailers can also offer cash withdrawals through debit cards, it said in a release.
PayNearby said it has commenced a nationwide launch under its retail network of more than 7. Like us on Facebook and follow us on Twitter.
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