What is Micro ATM?
Micro ATM or Mini ATM machine is a portable, handheld card swipe terminal used to dispense cash using any Bank's Debit Card, in locations where bank ATMs cannot reach. It is implemented to serve the needs of the people who live in underprivileged areas where digital services in the field of banking, payment and finance have not reached yet. This device is used by local shop owners of an area to provide their customers with the services that a coventional ATM would provide but with some modifications and more convenience.
Background of MATM
According to the data released, only 8% of the rural population has access to ATMs. This leaves huge gap in the availability of ATM services in these areas. This is an initiative by the government of India, as it is commercially viable to have more Micro ATMs rather than having more ATMs.
Features of Micro ATM?
Easy to use
Portable
Safe and Secure
Aircash Micro ATM accepts all Debit cards, be it Chip & Pin or Magnetic Swipe
Using the Aircash Micro ATM, a business can now accept all debit cards as a mode of payment for his/her business.
After the transaction is completed, a payment receipt is produced
Real Time Commission on each transaction in Aircash Wallet
Instant Fund Settlement option for managing Cash Flow
Micro ATM price is very less, enabling a high Return on Investment
How to withdraw money from Micro ATM machine??
The customer reaches the Aircash Mitra Store along with his/her Debit card.
The Business Correspondent Agent at Aircash Mitra Store will swipe your card in the Aircash Micro ATM machine.
The Micro ATM Machine will be connected to an Android phone, where the Business Correspondent Agent will log into the Aircash Mobile Application and choose the Cash Withdrawal - Card option.
The Business Correspondent Agent will then input the amount of cash to be withdrawn by the customer, which will be verified by the customer.
The customer will enter the PIN of the Debit card, and the transaction is done, Voila!.
How to get Micro ATM machine??
For New Users:
Once bought the device after purchasing from Distributor / Any E-Commerce Website, User needs to download Aircash App from Google Playstore>\
Complete the registration process
Dedicated Relationship Manager (RM) will be assigned for KYC completion and other support
Post completion of KYC Process(Aadhaar & PAN - Mandatory), RM will activate the services
For Old Users:
After receiving the device, enjoy continue providing services as it's preactivated - No Waiting.