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Aadhaar Micro ATMs Offer Cardless, Pinless Banking For Customers. 5 Points

Aadhaar micro ATMs payment is a new method that provides complete payment solution.

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Aadhaar Micro ATMs Offer Cardless, Pinless Banking For Customers. 5 Points

There are no service charges on the transactions done by Aadhaar micro ATMs.


Users can now get doorstep access to banking services by just using Aadhaar micro ATMs (Automatic trailer machines), said UIDAI (Unique Identification Authority of India) in a tweet posted on it's official handle. Currently, there are over 4 lakh Aadhaar micro ATMs providing card-less and pin-less banking across India, the tweet added. 59 crore individuals can now use Aadhaar micro ATMs for banking transactions. Aadhaar micro ATMs payment is a new method that provides complete payment solution where individual's Aadhaar number is enough to make transactions. Aadhaar is a 12-digit unique identity number issued by UIDAI.5 things to know about Aadhaar Micro ATMs:

1. Aadhaar micro ATMs allow customers to perform basic financial transactions using only their Aadhaar number and their fingerprint as identity proof (along with a Bank Identification Number for inter-bank transactions). (Also read: Nearest Aadhaar Centre: How To Locate Aadhaar Updation, Enrolment Kendras)

2. Aadhaar micro ATMs payment solutions are aimed at enhancing card less and PIN-less banking.

3. These machines are like modified POS (Point of sales) device. Bank representatives carry these machines and hence bring basic banking services at doorsteps. (Also read: Income Tax Returns (ITR) Filing: Steps To E-Verify Using Aadhaar OTP)

4. There are no service charges on the transactions done by Aadhaar micro ATMs. (Also read: How To Link IRCTC Account With Aadhaar Card Number For Booking More Tickets)

5. Unlike an ATM, the cash-in / cash-out functions of the micro ATMs are performed by an operator, thus bringing down the cost of the device and the cost of servicing the customer. The micro ATMs support financial transactions like cash deposit, cash withdrawal, funds transfer and balance inquiry for bank account.


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