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Micro ATM

Powered By: ICICI Bank & AFPL

  • It’s a handheld device that gets connected to the bank’s Core Banking systems over mobile network to facilitate financial transactions.
  • Portable, Economical and Low maintenance device.
  • Except mobile connectivity, no other infrastructure required.
  • Use debit card + PIN or biometric for authentication
  • For biometrics, the authentication is done through AADHAAR database.
  • Once authentication is done, the Business Correspondence (BC) gives the cash from his cashbox.
  • Other financial transaction such as Direct Money Transfer, Bill Payment and Merchant Payments (POS).
  • The Micro ATM concept tends to create an Eco System to spread banking services to the bottom of the pyramid.
  • It solves the problem of last mile connectivity and overcomes infrastructure issue.
  • It generates employment from cities till village level.
  • Interoperable. Any bank services can be offered.

Services

  • Cash Withdrawal
  • Balance Inquiry
  • Direct Money Transfer
  • Bill Payment
  • Merchant Payments (POS)
  • No extra space required
  • Carry in your pocket anywhere
  • Almost zero operational cost
  • Withdraw cash using Debit Card / AADHAAR
  • Highly cost effective

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