Cash Race in Rural India | iServeU - AEPS, DMT Provider
iServeU Cash Race

The Cash Race in Rural India

The term “digitalization” is the most popular term these days. From shops to payment systems, everything is turning digital. The ease and convenience, the digital platforms are providing are incomparable to the traditional ways. One had to visit shops and malls to purchase things. One had to go to the banks for a cash deposit, withdrawal, and transfer. But, the digital platforms are giving us various options to choose from, and 24X7 excess to avail of these services. Although the digital platforms are saving our time and money, why cash is still the king in rural areas?

Here are the top reasons why cash is still the king in rural areas:

  • Lack of sufficient banking infrastructure
  • No proper banks or nearby ATMs
  • Lack of retailers providing cash deposit or cash withdrawal facilities
  • Illiteracy and people don’t know how to operate smartphones
  • People don’t have smartphones
  • Unavailability of proper internet connection
  • They are rigid and unwilling to adapt to new ways

Quick Fix to promote Cashless economy in rural areas:

  • If the rural people are given the basic infrastructure like banks and ATMs and better digital solutions, they will certainly turn to digital payment
  • Many Fintech startups like iServeU are providing Micro ATMs to retailers, so the rural people can easily withdraw and deposit money.
  • The new payment systems like UPI, AEPS, BBPS, and DMT should be promoted in rural areas.

 The Introduction of Micro ATMs in the rural areas to reduce the cash dependence of rural people

Almost everyone must be familiar with the POS machines like that Micro ATMs are refashioned POS machines which allows both a card-swipe facility and a biometric fingerprint reader. The Micro ATMs with a card-swipe facility is more popular and widely used. Due to the lack of ATMs and banks in the rural areas, Micro ATMs are mostly used for the cash deposit and withdrawal. Unlike ATM machines, Micro ATMs are cheap to set up and easy to operate.

Also, everyone can afford it and connect it with their smartphones via Bluetooth. Micro ATMs are portable devices that one can carry in their pockets.  The rural people are still using cash for the payment of utility bills and going to the respective offices to deposit cash, but with micro ATMs, they can make various utility payments (electricity bills, recharges, ticket booking, etc.) with ease. These devices are ideal to provide banking access to unbanked and under-banked areas.

The Bottom Line:

There is no doubt that we are moving towards more usage of digital platforms but still, two-thirds of the Indian population lives in rural areas and depends on cash. iServeU, the leading fintech company is trying to help these unbanked and underbanked regions and providing Micro ATMs and other financial solutions to promote a cashless economy.  Now retailers can provide Micro ATM facility to the people and turn their shops into mini ATM booths. If you want to avail micro ATMs from iServeU, visit on or call on +91 8338088000.