Financial service platform Mswipe has launched micro ATM service ‘ATM Express’ for SMEs. Through this, merchants can offer point-of-sale (POS) terminal services to their customers for cash withdrawal and balance inquiry etc. The company says that this can increase the number of people coming to the merchant location through ‘ATM Express’ and merchants can earn extra through commissions. Mswipe says that it will use ‘ATM Express’ to expand banking facilities through its SME network, especially in Tier 2, 3 and 4 cities.
Customers will be able to remove 10 thousand in 2 days
Mswipe ATM Express is an economical way for banks to provide services to their customers. It does not cost to maintain ATM kiosks. In this way, expenses like rent, maintenance, CMS and security can also be saved. Customers can withdraw a maximum of Rs 10,000 from ATM Express twice a day at no additional cost.
Merchants will earn commission in lieu of providing ATM Express facilities and their customers will only have to pay the fee as per the issuing bank’s charges for availing ATM services.
According to the Reserve Bank, as of June 2020, an estimated 84 crore debit card holders and about 2.10 lakh onsite and offsite ATMs were operational in India. On an average there is an ATM for more than 4,000 debit card holders, and their number is even less in Tier 3 and 4 cities.
Value Added Services Expansion
Manish Patel, Founder and CEO of Mswipe said, “Mswipe has always been at the forefront of helping SMEs to grow their businesses further through our innovative and user-friendly digital payments solutions.” Our ATM Express service is an extension of Value Added Services (VAS) through the smart POS terminals of Mswipe. This helps both merchants and retailers to raise more facilities for their customers. Also, SMEs get extra income from this. Apart from this, footfall in merchants’ stores will increase, and will also be helpful in curbing the long queues outside the ATMs of banks. ”
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