Before jumping on the working of micro ATM machine, first we have to discuss about micro ATM machine and its purpose.
So that we can understand why should we use micro ATM machine and what are its advantage.
Main Motive Behind Invention of Micro ATM Machine?
After 70 years of independence, We have number of sectors in our country that are still waiting for banking facilities. Banks and RBI are trying to reach all those sectors but installing banks or ATM in all those areas are so costly as well as not safe. But reaching to all those people and get their contribution in economy was biggest challange in front of RBI and banks. To resolve this problem, NPCI started micro ATM service.
Micro ATM is a compact device that works like traditional ATM machine. It is very easy to carry and handle and it is also very cost-effective. Micro ATM can easily penetrate to all those sectors and can help them to provide banking services. Today millions of business correspondent and merchants are using micro ATM service to provide banking facilities in rural areas.
Micro ATM machines are remotely handled by a banking core system. All banking transactions performed under NPCI surveillance and merchants earn commission on all banking services.
Which Banking Services Can Customer Use Through Micro ATM?
By using micro ATM service, customers can use all basic banking service through debit card. The only thing a customer needs to perform banking transactions is debit card and PIN.
All following services a bank customer can use through micro ATM-
- Cash Deposit
- Cash Withdrawal
- Mini Statement
- Balance Enquiry
- Merchants can also accept payment using micro ATM
Keep Reading: Best Micro ATM Service Provider in India