How Mini ATM Machine is making Banking Easy & Fast in India?
Mini ATM as the name suggests is the micro version of ATMs that offer traditional banking services. As similar as ATMs, micro ATMs also offer all basic banking services like cash withdrawal, balance enquiry, and mini statement. Today thousands of merchant points are using a mini ATM machine to get payment and offer banking services.
Here in this article, we will discuss how mini ATMs is helping in financial inclusion and what are the benefits and features of these mATMs.
How Mini ATMs are helping in Financial Inclusion in India?
We are living in a technology era but still, there is a big portion of the population in India that is unaware of banking. They are not using banking service; even they don’t have bank accounts. That is causing a low economy of India because of the unavailability of banks and ATMs in those areas.
To resolve this problem, banks invented this portable device named mini ATM that is helping people in financial inclusion.
Now banks are successfully penetrating in all those areas that were apart from banking services. Millions of merchant points are using micro ATM machines and offering banking services through debit cards.
How Does Mini ATM Works?
Working with a mini ATM is very simple. Merchants just have to install an admin application and connect a micro ATM to a mobile phone using Bluetooth or a USB cable.
To activate the micro ATM machine, merchants have to fill the form (self-declaration form) with e-KYC and send to the admin. Admin further forwards this to the company and bank. In 24 to 48 hours bank activate your micro ATM machine and now the merchant is enabled to use banking services through micro ATM.
This is the one-time activation process, now merchants can offer banking services through all the banks using a debit card and can earn a commission.
To perform banking transaction through mini ATM, the customer has to visit nearby BC (Business Correspondance) and swipe debit card into mini ATM machine.
It performs as similar as traditional ATM machines. You have to enter PIN and choose transactions.
After completing the transaction, you will get the notification or msg on the screen.
By using mini ATM, the merchant can earn a commission on each and every transaction like the AEPS service.
So this is the very easy, fast, and safest way of banking through mini ATM which is helping in financial inclusion. Along with this, it is helping to encourage the economy in India.
What are the Features and Benefits of Mini ATM?
Mini ATM or micro ATM are one of the best fintech solution today that is offering banking services in rural and urban areas.
There are a few points about mini ATM you should know before using micro ATM-
· Mini ATM is a combination of software and hardware
· Mini ATM is a modified version of the Point of Sale machine
· Interoperable solution between all the banks
· This is a compact device easy to carry out
· You can convert your shop into ATM using a mini ATM
· Mini ATM is helping in financial inclusion
· Merchants can earn commission by offering banking services through mini ATM
· Mini ATM can be installed and use easily
· It offers all basic banking service
· Mini ATM allows banking transactions through debit card
So these are all the points that can help you to understand the benefits of mini ATM in banking.
How Can I Get Mini/Micro ATM?
Ezulix software is a leading micro ATM service provider company in India. We provide you with advanced micro ATM machine with add-on mPOS features. Now you just have to link your mini ATM device with admin mobile app and start offering banking services.
Learn more about this updated micro ATM machine.
Conclusion
So here we learn what is mini ATM and how it is helping people in fast and secure banking. For more details apply for a free live demo and learn how you can convert your retail shop into ATM.