Technology has played a major role over the years in the banking sector. This has been especially beneficial for rural and remote areas with limited access. Fastpay can provide banking services which is beneficial to all through AEPS and Micro ATM. Micro ATM provides convenience and helps to tackle issues of cash withdrawal.
The Aadhar-Enabled Payments System (AEPS) has emerged as one of the fastest-growing payments systems in India, having an annual growth rate of 150% since its launch in 2016. According to the most recent data by National Payments Corporation of India (NPCI), 33.5 million transactions worth Rs 9,000 crore happened over micro ATMs in May 2019. In the initial five months of 2019, almost 145 million transactions have occurred through micro ATMs as against an overall transaction volume of 200 million in the entire 2018.
If you are a shop owner or run a small business, you can become part of the growing fintech network. You can become a retailer or distributor with Fastpay. Becoming a Fastpay Retailer is very easy, as all you need is a laptop or a smartphone to provide the services to your customers. The banking services, not only increase your customer base but also provide extra earnings.
How does having a Micro ATM help retailer earn?
Micro ATMs can help retailers to increase the business as it adds another stream of revenue to the business. With every transaction, a retailer can gain an attractive commission, however, it does not add any extra cost to the customers. Aadhar Micro ATM allows customers to withdraw cash using just their fingerprint for scanning.
Fastpay’s AEPS micro ATM is affordable with promising returns as it brings more customers to your facility who want to avail banking services such as cash deposit, fund transfer, and balance enquiry, etc. all in one ATM.
How to install Micro ATM in your retail shop?
Contact us on the given phone numbers or fill up the enquiry form on our website to apply for retailers. Fill up basic information like your name and town and our agent will contact you. With the Fastpay micro ATM, you can provide different services under one platform and under one roof to customers. Aadhaar micro ATM price is a one-time investment to ensure continued returns.
How to use a Micro ATM?
● The customer has to scan the fingerprint on the biometrics enabled POS machine, which is verified by the UIDAI records.
● On completion of verification, select the options as shown by Micro ATM for the transaction that can be performed by the user.
● The device will process the transaction which is selected.
● On successful transaction, a message will be displayed on the screen and a printed receipt will be generated
Advantages of having Aadhaar-enabled micro ATMs
● Payments done via micro ATMs are only approved and authorized by banks. The authentication is done by UIDAI via biometric association with the database.
● Micro ATMs banking solutions are aimed at enhancing card less and PIN-less banking.
● Transportation of these Micro ATMs is easy so the bank can actually go to the customer.
● No extra service charges are levied on customers for the transactions done through such micro ATMs.