Fintech & Payments

Alternate use of Bank ATMs

Leverage on Bank ATMs. Can Banks tie up with Non Financial service providers/Government? There are approx 2 Lakh ATMs in the country, i.e “2 lakhs Electronic Machines, mostly with Internet connectivity, capable of offering Self Services”. Let us assume 60% working (please suggest a figure) with daily cashloads, rest are there as assets with irregular/no cash loads, means mostly ideal, but with “Fixed Costs”. Can Companies/Government use ATMs to dispense other services apart from financial services? Can Non Bank companies also reach to customers through this medium? I FEEL bad when an ATM is lying unutilized and branches are OVERCROWDED. If we are promoting Cashless society, then these ATMs must be used for some other Banking/Non banking services too, afterall its an asset and an Infra. Through #IndiaStack layers there are many services we can roll out through these ATM. Please suggest use cases, from all over the World where ATMs are used for non financial services #UseExistingInfrastructure

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.