Micro ATM: Keeping in mind the convenience of the customers, the work of installing micro ATMs has started on behalf of Airtel Payments Bank. With this, debit card users living outside metro and tier one cities of the country will get better facility to withdraw cash. (Airtel Payments Bank will install micro ATM)
The scheme will leverage a network of over 500,000 banking points across India to facilitate cash withdrawals to the users. Airtel Payments Bank is now integrated with National Payment Corporation of India (NPCI) and National Financial Switch (NFS) to facilitate transactions through micro ATMs.
Customers associated with any bank can use the micro ATM facility at Airtel Payments Bank banking points. The company said that a customer can withdraw up to Rs 10,000 per transaction through a micro ATM. Also, micro ATMs will be started in a phased manner. Initially the bank will set up 150,000 units in Tier II cities and semi-urban areas.
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Airtel Payments Bank said the demand for cash withdrawal services in these areas is generally high, but the number of ATMs is limited.
1.5 lakh micro ATMs to be set up by March
Through this initiative, the bank will leverage its strong network of over five lakh banking points across the country to facilitate easy cash withdrawal to the users. The company plans to install 1.5 lakh micro ATMs by the end of the current financial year. That is, in six months till March, 1.5 lakh ATMs will be installed in a hurry.
What is Micro ATM?
Micro ATM is a small machine that looks like a card swipe machine. This machine is capable of providing the required banking facilities. Such ATMs are very beneficial, they provide convenience to those people where normal ATMs cannot work.
