Cash(ATM) or Digital? The dilemma is, whether we should have more number of #ATMs and #CashInCirculation (CIC) to serve the rural and non-digital customers or to have lesser of these to promote #Digital.
If you promote ATM and Cash many new timers won’t realise that Debit card can be used for purchase as well, and not only for cash withdrawals. However, if you don’t provide ATM and cash, people will either stand in queue at the branch or Pay extra charge to #agents for cash withdrawal.
Making access to cash difficult and costly may lead to increased usage of digital money (many countries do it). But we need the ecosystem and entire value chain to be on the digital platform to support this philosophy.
The question is complex, and many suggest simultaneous use of Carrot (Cashbacks) and Stick(Forced digital) methods to go digital.
What do you think and suggest? Should we continue giving support through ATMs or discourage it to promote Digital?
By the Way, we have not yet realised the full #potential of ATMs for NON-Banking services, it can be a wonderful infra to reach people for multiple unrelated services like Government Or Businesses.
See the discussions here.. https://www.linkedin.com/feed/update/urn:li:activity:6553208173111672832