Micro ATM meant to be a device that is used by a million Business Correspondents (BC) to deliver basic banking services. The platform will enable Business Correspondents (who could be a local kirana shop owner or Addpay centre and will act as ‘micro ATM’) to conduct instant transactions.

The micro platform will enable function through low cost devices (micro ATMs) that will be connected to banks across the country. This would enable a person to instantly deposit or withdraw funds regardless of the bank associated with a particular BC. This device will be based on a mobile phone connection and would be made available at every BC. Customers would just have to get their identity authenticated and withdraw or put money into their bank accounts. This money will come from the cash drawer of the BC. Essentially, BCs will act as bank for the customers and all they need to do is verify the authenticity of customer using customers’ UID. The basic transaction types, to be supported by micro ATM, are Deposit, Withdrawal, Fund transfer and Balance enquiry.

Following transactions can be done at Micro ATM

• Cash withdrawl from any bank account
• Balance enquiry
• Money Transfer

Benefits of using Micro ATM

• Convert your shop into an ATM
• Micro ATM is a portable device and can be taken to any place
• Easy to carry and setup in remote areas
• Worls with any bank.
• Low cost option for existing ATM.