It functions as a unique “Bank-in-a Box”. Being India’s first interoperable system, it is an innovation in banking that can service a customer of any bank using the Aadhaar bio-metric authentication system or debit card interface. In other words, micro ATMs are handheld point of sale terminals used to disburse cash in remote locations where bank branches cannot reach. Micro ATMs are like point of sale (PoS) terminals and are a doorstep mobile banking arrangement cum-mobile ATM device.
ATM has made our life very easy. There is no doubt about it. However, in the cash crunch scenario like today Micro ATMs is the best suitable option. Micro ATM is small POS type machine which allows customers to perform financial transaction like cash deposit, withdrawal, and ministatement.