What Are The Transactions Which Can Be Done In Micro ATMs?

Micro ATMs allows customers to perform basic financial transactions using their Aadhaar number and their fingerprint as identity proof.

Micro ATMs look and feel are very similar to point of sale (PoS) terminals but these devices are handheld by business correspondents to accept deposits and dispense cash.

The micro ATM will support the following financial transactions:

• Deposit

• Withdrawal

• Funds transfer

• Balance enquiry

What are the inputs required by the customer?

The only inputs required for a customer to do a transaction are:-

• IIN (Identifying the Bank to which the customer is associated)
• Aadhaar Number
• Fingerprint captured during their enrollment

What is an IIN?

IIN is a six digit number and identifies your bank with which you have linked your Aadhaar number. In most banks BC customer service points, this number would be represented on the terminal by the bank's logo or name.

What are the objectives of micro ATMs?

The main objective of micro ATMs is to bring down the cost of integrating microATMs into banks' networks.

1. The micro ATMs will help enable banks to route the Aadhaar initiated interbank transactions through a central switching and clearing agency.

2. Micro ATMs will facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies, using Aadhaar and authentication thereof as supported by UIDAI.

3. To facilitate inter-operability across banks in a safe and secured manner.

4. To build the foundation for a full range of Aadhaar enabled Banking services.

RBI is the regulator of payment systems and will regulate the micro ATM payments platform as well.

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