Micro ATM (mATM)

Introduction

Micro ATM or mATM is a card swiping device where all banks are connected with their Core Banking Systems. This mATM device has facilities to swipe debit card or insert chip enabled debit cards. Micro ATMs are man-handled point of sale terminals which can be deployed in any retail point, kirana shops or any stores. This device connects with iServeU’s Android app enabled smartphone through Bluetooth. Using mATM device and Smartphone, business correspondent agent (BC Agent) can disburse services like; Cash Withdraw and Balance Enquiry by swiping a debit card and using 4 digit ATM PIN. mATM device is portable and easy to use. It is way more cost effective than Bank’s large ATMs or any bank branch. iServeU was the first company to launch Micro ATM in India on the month of September, 2018. To mitigate the traditional problems like standing in a long queue in bank branch or ATM, bank CBS down issue or shortage of cash in ATMs iServeU introduced this device.

Micro ATM or mATM is an alternate way of AEPS to withdraw cash and enquiry bank balance using Debit card. iServeU process transactions through android app using a card reader ATM device. This product operates under National Financial Switch (NFS) and guidelines of NPCI.

Benefits

Initially Micro ATM device pairs with iServeU android app through Bluetooth connectivity. Customer’s Debit card and ATM PIN is the only requirement to process withdraw or balance enquiry transaction. Unlike AEPS there is no limitation for transaction through Micro ATM. Customer can withdraw as per card issuer bank’s limitation. Micro ATM has become popular as this is the most reliable way for withdraw transactions.

Key Highlights:

  • All Debit Cards Accepted
  • Cash Withdraw & Balance Enquiry
  • Seamless Connectivity via Bluetooth
  • Instant Settlement to Wallet
  • Works in Holiday/Non-Banking Hours
  • Attractive Commission for Retailers
  • No Extra Charge for Customer

FAQs

How can I get micro ATM?

To get the Aadhar micro atm and to know about its price one need to contact iServeU

What is micro ATM machine?

micro atm machine is just a pos device where we can withdraw amount swiping the atm card. the amount will be credit to user wallet. Micro ATMs is the best reasonable choice and it is a little POS type machine. In excess of a million Indians are examining their fingerprints and pulling back money at nearby Kirana stores each day through biometric-abled instalment channel from their financial balances connected with Aadhar to satisfy their money needs. Micro ATMs permits clients to perform money related exchange like money store, withdrawal and reserve move would especially help address the issues that individuals are looking in provincial and semi-metropolitan zones , where the ATM network isn’t as solid as of now.

What is aadhar ATM?

Aadhaar micro atm is a bank led model which permits online interoperable financial transaction at PoS or (Micro ATM) through the business correspondent of any bank utilizing the Aadhaar authentication. Aadhaar Enabled Payment System is a framework created by the National Payments Corporation of India (NPCI), that allows the individuals to carry out the financial transaction on a Micro ATM by providing their Aadhaar Number and verifying it with the help of their unique mark (fingerprint)/ iris scan. Aeps is a bank led model which permits online interoperable financial transaction at PoS or (Micro ATM) through the business correspondent of any bank utilizing the Aadhaar authentication. Individuals don’t need to specify their bank account details to do the transactions.

How do I withdraw money from AEPS?

” one can withdraw money from AEPS using aadahar no and fingerprint , the amount will be debit from selected bank to wallet and to know about the aeps micro atm price one could contact to iServeU. Enter your 12-digit Aadhaar number in the PoS Machine.

Select the exchange type – money store, withdrawal, smaller than expected articulation, reserve move, balance enquiry or eKYC.

Select the bank name.

Enter the sum for the exchange.

Validate the exchange utilizing your biometric (unique mark or iris filter).

The exchange gets finished in short order.

A receipt will be given to you by the banking correspondent.”

How can I withdraw money from my Aadhar card through ATM?

One can withdraw money from Aadhaar micro atm near me through a single tip without visiting bank or atm .

What is a micro ATM?

Aadhaar Micro ATMs is the best reasonable choice and it is a little POS type machine.

How many times we can withdraw money from ATM in a day?

there is no limit but it depend upon the card issuing bank to withdraw money with the money service provider.As indicated by the official site of ICICI Bank, a client can pull back up to ₹ 50,000 every day from any of its ATMs. SBI has brought the limit down to ₹ 20,000 from ₹ 40,000. The new ATM money withdrawal rules are pertinent on SBI Classic and Maestro charge cards.

Which bank started first micro ATM?

Aadhaar micro atm machine was first started by IDFC first bank’s. IDFC FIRST Bank’s microATM outlets are an augmentation of its branch organization. It’s a one of a kind “Bank-in-a Box”. Being India’s first interoperable framework it is an advancement in banking that can support a client of any bank utilizing the Aadhaar bio-metric verification framework or check card interface.

What is cashless withdrawal in ATM?

micro atm cash withdrawl empowers clients to pull back money safely and advantageously for ordinary utilization and buys.

Micro ATM