MicroATM Technology becoming popular in these days due to its highly sophisticated features , it allows customers to carry out their financial transactions using Aadhaar number and Biometrics or OTP (One Time Password) as an identity proof
Financial transactions such as Deposit,Withdrawal,Funds transfer,Balance inquiry can be performed by microATM , also it ensures security and transparency of transactions
The microATM supports authentication types like Aadhaar + OTP, Magstripe card + Biometric , Magstripe card + OTP , OTP + Bank PIN , Aadhaar + Biometric.
Main objectives of microATM technology has been listed below :
- Cost effectiveness : integrating microATMs to banks’ networks with using their existing systems
- Supports Maximum existing banking systems
- Provides secured and transparent transactions
- Easy to learn technology that reduces training cost