After demonetization, India is continuously moving towards a cashless society. RBI and NPCI are continuously working on projects that support the cashless economy in India. AEPS is one of the best and most trending service that is invented & driven by NPCI (national payment corporation of India). Today we will talk about one more outstanding service that empowering a cashless society dream in India. Yes, here I am talking about micro ATM that legitimizes the cashless economy in India.
What is Micro ATM?
Micro ATM is a device that is used basically by business correspondents (at retail Kirana shop or emitra) to offer banking services as AEPS and money transfer. It is also known as an automated teller machine which is used for money dispenser. In easy words, we can say it is a small version of ATM where we can withdrawal money by using a debit card. As in AEPS you can withdrawal money using 12 digits Aadhaar card numbers, same in micro ATM you can withdrawal money using your debit card at any business correspondent (BC).
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