Micro ATM meant to be a device that is used to deliver basic banking services. The platform will enable to conduct instant transactions.
The micro platform will enable function through low cost devices (micro ATMs) that will be connected to bank. This would enable a person to instantly deposit or withdraw funds. This device will be based on a mobile phone connection and would be made available at every places Customers would just have to get their identity authenticated and withdraw or put money into their bank accounts. This money will come from the cash drawer of the Micro ATM Operator. Essentially, Micro ATM Operator will act as bank for the customers and all they need to do is verify the authenticity of customer using customers’ ATM/UID. The basic transaction types, to be supported by micro ATM, are Deposit, Withdrawal, Fund transfer and Balance enquiry.