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Micro ATMs and how it works in Rural India

You might have seen, retailers are holding small handheld devices for payments. Maybe you are wondering, what is this device called and what are its uses? After demonetization, these devices gained a lot of popularity. The portable handheld POS devices called Micro ATM has become a buzz word. Micro ATMs is a card swiping machine, through which you can withdraw cash, deposit cash, or enquire your balance easily. The people living in rural areas suffered a lot during the demonetization period and being a developing nation, building infrastructure in the rural areas was not possible. Micro ATMs are a great way for money transactions in the unbanked and under banked areas. Even old or handicapped people can withdraw money through these devices, as these mobile ATMs can reach your doorsteps.

Advantages of Micro ATM in rural areas

People who live in villages and rural areas where infrastructure is poor, people are not updated with the latest technologies, and digital payments are rare. For rural people, Micro ATMs are very necessary for various financial solutions.

  • They don’t have to visit banks for cash deposit
  • They don’t have to visit ATMs for cash withdrawal or balance inquiry.
  • Any retailers or business correspondents can use Micro ATMs and provide financial solutions to the customers.
  • The retailer can add an extra source of income
  • Gain a good commission
  • Retailers can able to increase the number of footfalls to their shops
  • Old people or women can contact the local retailers for any cash needs.
  • Ease to operate and connect with the mobile phones.
  • A portable device that you can carry in your pocket.
  • Micro ATMs from iServeU (a leading fintech company) are affordable and highly functional.
  • Instant payment solution

How to operate Micro ATM:

The operation of Micro ATM is simple and easy. You just need to connect the micro ATM with your mobile phones via Bluetooth. One needs to switch on the device and swipe the card after entering the amount for withdrawal. You can avail of the device for just Rs. 2,500 from iServeU online portal.

 Micro ATMs can be used for:

  1. You can open your bank Account
  2. Make ATM card transaction
  3. Aadhaar enabled payments (AEPS)
  4. Easy Cash withdrawal/ cash deposit
  5. Mini statement
  6. Balance inquiry
  7. Fund transfer

The bottom line:

 iServeU is a leading fintech company that provides a financial solution to every section of society. iServeU is trying to reach the maximum number of villages and rural areas all over India, so people can avail of the banking services with ease and promote a cashless economy initiated by the Government of India. As a retailer, you can easily convert your shop into a banking services provider and earn a decent amount of commission. For more info, visit us on iserveu.in.