What is Micro ATMs? how it can be beneficial for people?

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micro atm machine installed with Aadhar enable payment System
Micro ATM is latest version of tradition ATM machine. It is method of do payment transection online. Micro ATM machine is hardware device which connect customer account to bank service so that people can do financial transection like money withdraw, online payment, cash withdraw bill payment, etc. There are various business transection done through Micro ATM. The future of Micro ATM is bright in India. After revolution in digital world people are more interested to do payment through plastic money and all business transection done online so that it will help to reduce work load of bank's employee. Formally banking institutions installed ATM machine in various location that give extra burdon on banks revenue like machine cost, maintenance cost and infrastructure cost which could increase bank expanse. This cost is huge so what banks are doing they are promoting online payment system. Presently still ATMs are not reach to every place in India. According to survey, first atm installed in India was in 1987 by HSBC Shanghai bank corporation. Most of Village did not have ATM machine so it need to promote online payment system in village as well. 
Government facilitate to villager to connect bank to the farmer. Government has launch the various scheme like JANDHAN Yojana etc and under this scheme, banks allow villagers and peoples to open account with zero balance so that every farmer can get benefit.
 There are various organisation providing service in india like micro atm idfc, micro atm upsc, aadhar micro atm paypoint etc.

What transactions can be done at Micro ATM?

The Micro ATMs can perform following transactions –
  • Cash Deposit
  • Cash Withdrawal
  • Fund Transfer
  • Balance Enquiry
  • Service Request acceptance
  • Aadhar Seeding
  • eKYC based saving account opening

How Micro ATM Works?

Working of Micro ATM is similar to normal ATM machine.
  • Firstly, you need to undergo via a verification process. For the verification process, Aadhaar card with fingerprint scanning or card swipe option is provided.
  • Once verification is completed Micro ATM will display various transaction options.
  • You need to select the option and device will process the transaction.
  • On successful transaction, a message will be displayed on the screen and print receipt is generated.
  • You will also get SMS alert from your bank about the transaction.



What are the benefits of using Micro ATM?

  • One can extend banking services anywhere in the remote area using Micro ATM
  • It is a low cost option for the existing ATM
  • Micro ATM is portable device
  • Easy to carry, easy to setup anywhere in the remote area
  • Biometric enabled secured transactions
  • Interoperable device and can work for any bank
  • Useful to help people during demonetization process


For more details about services and products please contact us on our website link :

 http://www.baghelconsultancyservices.com

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Comments

  1. postsblogJune 10, 2021 at 11:46 PM

    Thefull name of ATM is Automated teller Machine, which is an electromechanical machine composed of an automated banking platform that allows customers to operate smoothly without the help of branch representatives or cashiers. Withdrawing money at most ATMs ATMs are beneficial because they allow customers to conduct fast self-service transactions such as withdrawals, deposits, bill payments, and account-to-account transfers. It is held by the ATM operator or by both. Some of these fees can be avoided by using an ATM directly operated by the bank that opened the account.

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