Popular Micro ATMs in rural areas

One a recent visit to our relative, he mentioned that in Zimbabwe Ndasenda with help of Teknospire’s Finx -Agency and payment Banking Suite was providing financial inclusion to the unbanked in remote areas. Here in his village with fewer ATMs and half of them, cash stripped, when it is becoming difficult for the needy to survive, what to mention about attaining financial inclusion! With a quizzical look on his face he asked have you heard about the portable small machine that looks like a card swiping machine but can provide basic banking facilities? Nodding his head in a forgetful manner he said what is it called? I replied saying “Uncle the machine is called a micro-ATM. Smilingly he asked can do me one favor? Yes, Uncle? I replied, He looked thoughtfully and said, “I support our country’s digitalization drive and want unbanked to bank. Probably I could contribute to financial inclusion by setting up a Micro ATM in my shop. Can you provide me the list of the Micro ATMS in rural areas as my computer is under repairs”? I said yes just give a half an hours time.

Took out my tablet did some googling and prepared the list. The list handed over to him included the below popular micro ATMS, their features, and picture in a tabular format for his better understanding.

Micro ATMs From	Picture	Can it be Used in Rural areas	Is it Aadhar Enabled, Interoperable and does it have Thermal Printer	Is Biometric verification and other Multiple Identifiers used	Banking activities Performed	How it work for Business correspondents(BC)
IDFC Bank		Yes	Is Aadhar enabled and interoperable Has a thermal Printer	Biometric verification is done Has an attached biometric scanner Uses multiple identifiers such as mobile number, aadhar number, debit card number, bank account number	A/c opening Cash deposit Cash withdrawal Balance-inquiry Statements Remittances	Bank would give the micro ATMS on a lease model to the BC and 300 rs every month would be charged for its usage BC’s would earn an income of Rs 3000-5000 3.14% or a maximum of Rs 15 would be charged as the transaction fee Of the 3.14% or a maximum of Rs 15 charged as transaction fee BC’s would get 75%.
HDFC Bank		Yes	Is Aadhar enabled Has a thermal Printer facility	Biometric verification is available Uses Identifiers such as debit card, account number,aadhar card number	A/c opening Cash deposit Cash withdrawal Balance-inquiry Statements Remittances and fund transfers Preapproved-loan disbursement Pensioner’s payment Availing Direct Benefit transfers under MGNREGA Withdraw DBT entitlements	Bank would give the micro ATMS on a lease model to the BC and 300 rs every month would be charged for its usage BC’s would earn an income of Rs 3000-5000 3.14% or a maximum of Rs 15 would be charged as the transaction fee Of the 3.14% or a maximum of Rs 15 charged as transaction fee BC’s would get 75%.
AXIS Bank		Yes	Is Aadhar enabled Has a thermal Printer facility	Biometric verification is available Uses Identifiers such as debit card, account number,aadhar card number	A/c opening Cash deposit Cash withdrawal Balance-inquiry Statements Availing Direct Benefit transfers under MGNREGA Withdraw DBT entitlements Fund Transfers	Bank would give the micro ATMS on a lease model to the BC and 300 rs every month would be charged for its usage BC’s would earn an income of Rs 3000-5000 3.14% or a maximum of Rs 15 would be charged as the transaction fee Of the 3.14% or a maximum of Rs 15 charged as transaction fee BC’s would get 75%
SBI (Its Customer service point offers Micro atm facility)		Yes	Is Aadhar enabled and interoperable Has no thermal Printer facility	Biometric verification is available Uses Identifiers such as debit card, account number,aadhar card number	Aadhar enabled cash deposits and withdrawals Fund Transfers Balance enquiries	Enrollment fees and other requirements specified by SBI for becoming CSP

 

Looking through the details that I had prepared my uncle said “thanks for the details I will go in for HDFC’s micro atm” and install in my shop. And our conversation ended with him very thoughtfully saying “Will ATMS become a thing of past and what next after Micro ATMS”

References:

Estel Micro ATM
Meenakshi Energy brings in micro ATMs to help villagers overcome cash crunch – Economic Times
What is Micro ATM ? All you want to know is here!
IDFC Bank using micro-ATMs to make inroads into un-banked areas
HDFC Bank’s Handheld Micro ATMs With Biometric Verification Can Change Rural Banking In India For Ever
India Post to set up 10,000 ATMs, 20,000 micro-ATMs by year-end
SBI Portal
Eligiblity for opening & maintaining of CSP
UID boost for micro-ATM makers