Bharti Airtel’s banking subsidiary, Airtel Payments Bank, just announced micro ATMs that allow users to withdraw cash in an easier way. Debit card users across the country can easily withdraw money. There are several hundred thousand Airtel Payments Bank bank points that allow users to withdraw money on the go.
The Bank will leverage its strong network of more than 500,000 bank points across India to provide users with access to convenient 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).
Users can withdraw Rs 10000 in any transaction
Bank-linked customers can now use the Micro ATM facility at Airtel Payments Bank’s neighborhood banking point. They can now earn money right away recordings and check their account balance with their bank debit card at the designated bank point. A customer can withdraw up to Rs 10,000 per transaction through the micro ATMs.
This would give Airtel Payments Bank a more prominent position in the banking sector. Airtel Payments Bank’s micro ATMs will be installed across India in phases. Initially, the company will place more than 150,000 units in Tier 2 cities and semi-urban regions. These regions have a lot of users who want to withdraw money but have very limited access to ATMs.
How customers can withdraw money through micro ATMs
- Bank correspondents (BCs) initiate the transaction by entering the withdrawal amount.
- The customer then inserts their debit card into the device and enters the PIN to confirm the transaction.
- The BC authorizes the transaction by entering their MPIN to complete the transaction.
If the transaction is successful, the BC will give the money to the customer.
