Micro ATM Service Provider - MFins Business Opportunity

Micro ATM

Similar to bank ATMs, the micro Automated Teller Machine (ATM) also provide traditional services like withdrawing cash, balance enquiry, cash deposits and much more. However, the micro ATMs are best for carrying out cash transactions in situation when bigger ATMs are running dry. Micro ATMs as the name suggests are a mini version of an ATM. They are developed with features like point of sales (POS), connecting banking networks through GPRS for carrying bank-related transactions. Equipped with card swipe facility, the micro ones can even operate via fingerprint scanner. Generally, these mini ATMs are situated in remote or mobile locations.

How Does Micro ATM Works?

To operate this portal, a person has to undergo verification process such as Aadhaar card with fingerprint scanning or card swipe option. Once verified, he or she will be able to select options for various transactions like cash deposit, fund transfer, eKYC based saving account, Aadhaar seeding, cash withdrawal, balance enquiry and service request acceptance. Note, these options can be different depending upon banks or fintechs.

You will require the following formation to carry out an AEPS transaction:

  • Bank’s Issuer Identification Number (IIN) or Name
  • Aadhaar Number
  • Fingerprint


Features & Benefits of Micro ATM:

  • You can accept debit cards as a mode of payment for your primary business
  • You can carry out banking services for all banks such as money transfer, balance enquiry and cash withdrawals using AEPS, Cash @PoS
  • A complete banking experience to your customers
  • Increase footfall which in-turn will increase your core business
  • Additional revenue, needless of extra setup
  • Earn on every transaction

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