Micro ATM

Providing banking facilities and an array of ATMs throughout the rural areas is unviable for banks due to high Infrastructure cost, the low number of accounts, low volume of transactions and low value of transactions. The government has suggested a Micro ATM model for increasing transactions in the rural areas. Micro ATM is a bank-led model which facilitates online interoperable financial inclusion transaction at POS terminals through Business Correspondent (BC) / Primary Agricultural Credit Society (PACS).

Micro ATM

Micro ATM solution is integral part of Government of India’s FI Mission. It offers various banking services at an affordable cost to the vast sections of disadvantaged and low income group. The various solutions include: a) RuPay Card-based On-us and Off-us transaction on Micro ATMs b) AEPS Cardless On-us and Off-us Transactions on Micro ATMs c) eKYC Transactions

Solution Features

  • Micro ATMs will be connected to the FI Switch and will allow the targeted beneficiaries to access their accounts at various Micro ATM centres.
  • In addition to their own branches, Banks will appoint multiple BCs / PACS to operate as Micro ATM centres. BCs / PACS are individuals or societies who work as bank agents in various geographies.
  • Customers need to carry their Rupay Debit cards to the Micro ATM centres where the agents / correspondents will help / guide them for initiating / completing transactions.
  • The card is inserted into the Micro ATM device and transaction is initiated through ATM + PIN.
  • For Aadhaar-based transactions, finger print / biometric authentication has to be carried out. After successful authentication from UIDAI, the transactions will be completed and updated to the bank server.
  • A receipt is issued to the beneficiary; also a beep prompt is provided as a third-level authentication.