Aadhaar micro ATMs: All you need to know about this cardless, pinless banking

Aadhaar micro ATMs: All you need to know about this cardless, pinless banking

New Delhi: Aadhaar body UIDAI on micro-blogging site Twitter said that card-less and pin-less banking service is possible with Aadhar micro ATMs, under which Bank Mitras bring basic banking services at doorstep. Over 58 crore individuals can do banking transactions without using their ATM card or PIN using this facility, UIDAI further added. Aadhaar is a 12-digit unique identity number issued by UIDAI.

According to UIDAI, more than 4 lakh Aadhaar micro ATMs are deployed as of now for providing doorstep banking services. These micro ATMs allow cash withdrawal, cash deposit, balance enquiry and remittance

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Here is all you need to know about Aadhaar Micro ATM facility:

1) Aadhaar micro ATM is basically a POS (Point of sales) device operated by a bank representative called Bank Mitras.

2) These micro ATMs work based on AEPS (Aadhaar Enabled Payment System) technology. This allows your fingreprint and mobile number together to work as your debit card.

3) For withdrawing money, you just need to tell your Aadhaar no to the bank representative which will be followed by verification of your fingreprint and OTP received on your mobile phone. These payments are authorised by banks, said UIDAI.

4) Aadhaar Micro ATMs payment solutions are aimed at enhancing card less and PIN-less banking.

5) No service charge is levied for carrying out transactions on Aadhaar micro ATMs.

6) This facility is targeted for rural areas where availability of ATMs are less. To know the nearest micro ATM in your area visit this link-

Source by:-timesnownews

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