What is a micro ATM?
A micro ATM is essentially a mini ATM that let users swipe their debit cards for regular purchases. It functions similarly to portable point of sale (POS) terminals, which can be used specifically to distribute cash in rural or remote sections of the nation. With the portable feature, banks may quickly connect to their main financial system and offer a variety of services. It is a doorstep mobile banking arrangement cum-mobile ATM device.
The micro ATM in India allows customers of
rural banks to withdraw money from their accounts using their Debit cards. Furthermore, these locations with micro ATMs can serve as cash-in,
cash-out (CICO) locations where users can withdraw up to Rs 10,000 using debit
cards. The customer also has access to banking
services including making deposits, transferring funds, inquiring balances, etc.
What distinguishes an ATM from a micro ATM?
An automated teller machine (ATM) is an
electronic banking device that allows customers to complete financial
transactions including cash withdrawals, deposits, funds transfers, balances,
or account information inquiries without the aid of bank staff. Most ATMs
contain card readers, keypads, cash dispensers, printers, and screens. Anyone
with a credit card or debit card can access cash at most ATMs anytime.
Micro ATM is a mini and portable version of
an ATM. micro AMTs are equivalent to the modified point of sales (POS) machines
that can connect to banking networks via GPRS to perform transactions.
Generally speaking, a micro ATM comes with a fingerprint or iris scanner as it requires
performing biometric identification.
What
are the benefits of micro ATMs?
- Promote financial inclusion, digital India, and a cashless society process
- High accuracy with stringent biometric identification
- Micro ATMs are interoperable devices that can work for any bank.
- cost reduction, lower operation, and maintenance costs than regular convenience
- Low operational cost.
- Portable, easy to carry, and suitable for Indian semi-urban and rural areas.
VOSO mATM services (micro ATM service)
Now you can offer mATM service to your
customers through Voso mATM services and earn the highest commission on each
transaction. mATM is a device that allows users to withdraw cash and look for
balance inquiries from any Kirana shop, local store, or e-service portals without
going to banks and waiting in long queues. Through mATM devices, the merchants
can offer cash withdrawals, cash deposits, and money transfers from one bank
account to another bank account as well as balance while earning commissions on
each successful mATM transaction.
Benefits of VOSO mATM services
- Highest commission
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- No, wait, no delays
With Voso mATM service, experience the fastest tractions with receipt generation within 10 seconds of completing successful transactions.
- Real-time status visibility
Get real-time transaction data on all transactions with VOSO's mATM service, even during power cuts.
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