Financial Inclusion
Micro ATMs
Bringing banking to your fingertips, no matter where you are.
Key Features of Micro ATMs
Micro ATMs offer exceptional portability, being lightweight and easy to use, which enables door-to-door banking services. They ensure secure transactions through advanced biometric and PIN-based authentication, providing peace of mind to users. Operated by local agents, these ATMs bring banking services to remote areas, enhancing accessibility for underserved communities.
Additionally, they support multiple payment options, allowing transactions through Aadhaar, debit cards, and mobile numbers. This low-cost solution provides an affordable infrastructure for banks, enabling them to expand their reach and serve a broader customer base effectively.
Services Offered by Micro ATMs
Micro ATMs offer a range of essential services designed to enhance banking convenience for users. Customers can easily perform cash withdrawals from their bank accounts using either their Aadhaar or debit card. Additionally, depositing cash into bank accounts is made simple and convenient. Users can check their account balances instantly, ensuring they are always informed about their financial status.
Fund transfers between accounts can be completed within seconds, providing a quick and efficient way to manage finances. Furthermore, customers can access recent transaction details through mini statements, and they can pay utility bills directly via Micro ATMs, streamlining everyday financial tasks.
How Does a Micro ATM Work?
Verification: Customer verification is conducted, allowing individuals to authenticate their identity using biometric data, such as Aadhaar, or by entering their debit card and PIN.
Service Selection: Users can choose the desired service, whether it be cash withdrawal, deposit, balance inquiry, or another option.
Transaction Execution: The banking correspondent then executes the transaction using the Micro ATM device, ensuring that the process is quick and secure.
Real-time Updates: Transactions are updated in real-time in the user's linked bank account, providing immediate confirmation and enhancing the overall banking experience.