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Micro ATM

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What are Micro ATMs?

  • It is the advanced version of Point of Sale (PoS) having an additional feature of Biometric scanning.
  • It is also known as a mini version of ATMs.
  • Technically they are not fully automated but assisted by a trained bank professional or Bank Correspondent.
  • These machines are connected with the GPRS (General Packet Radio Service) mobile internet and it uses the Core Banking Solution (CBS) platform to perform the different types of services.  Hence it uses 2G Technology, so the villages with the poor mobile network can also benefit from this.

What services does Micro ATM provide?

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 Does Micro ATM works ?

  • Bank appoints Banking Correspondents (BCs) to run these machines.
  •  When we swipe our debit card then the PoS automatically reads the electronic data of the card. Then it asks to enter the PIN or, it uses biometric scanning for authentication of the customer. 
  • The PoS is connected with a host computer through Core Banking Solutions (CBS).
  •  After verifying everything, as per the customer need the service is provided very easily. 

Negative News about Micro ATM

Fingerprints cloning gang busted in Azamgarh; one held, four .. 

Read more at:
http://timesofindia.indiatimes.com/articleshow/69976928.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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