Airtel Payments Bank introduces micro ATMs


Mumbai: Airtel Payments Bank on Wednesday launched micro ATMs, a step towards better facilitating convenient cash withdrawals for debit card users residing beyond the metro and tier 1 cities in India.

The bank said it will leverage its network of over 500,000 banking points across India to give users access to easy cash withdrawals through this initiative. To facilitate the micro ATM transactions, Airtel Payments Bank is now integrated with the National Payments Corporation of India’s (NPCI) – National Financial Switch (NFS).

It said that customers associated with any bank will be able to use the micro ATM facility at the neighbourhood banking point of Airtel Payments Bank. A customer can withdraw up to 10,000 per transaction through the micro ATMs.

Ganesh Ananthanarayanan, chief operating officer, Airtel Payments Bank, said, “The launch of micro ATMs is one more step by us to empower customers residing in the rural pockets of the country. It is the first device launched by the bank, and we are truly excited, as it allows us to service customers of any bank who use a debit card.”

Micro ATMs, Airtel Payments Bank said, will be rolled out in a phased manner. Initially, the bank will place 150,000 units in tier II cities and semi-urban regions. These regions typically have a high demand for cash withdrawal services but limited access to ATMs.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.


Source link