What is a Micro ATM? Get one from Oxigen.
Micro ATM is a compact device that looks like a card swiping machine but is capable of providing branchless banking to the last mile. Micro ATM in combination with a biometric sensor which can capture ones Aadhaar details can help banks and payment solution companies tap large unbanked sector effectively as they can use these devices along with their banking correspondent/retail network to deliver low cost banking solutions to the unbanked customers.
Micro ATMs are Point of Sale (PoS) Devices that work with minimal power, they connect to central banking servers through GPRS, thereby reducing the running costs considerably. Micro ATM is a mini version of an ATM. A Micro ATM was originally developed to help people in rural areas to achieve financial inclusion where people can do transactions at a location near to them. Micro ATM’s being hand-held devices can be taken to the remotest of locations and can provide banking transactions independently.
But the use case of a Micro ATM doesn’t limit here – Oxigen Services, one of India’s largest payment solutions company took the Micro ATM concept leaps and bounds ahead. Oxigen developed an in house Micro ATM called Oxigen Super PoS which doesn’t only limit one to do banking transactions only on the device but also provides last mile banking, digital payments services on one single platform thereby converting physical cash to digital money for micro payments of services and remittances in a ‘real time’ environment.
Oxigen is India's first and largest Payments Solutions provider with a physical presence on a virtual network. Its business involves service aggregation and distribution, utilizing Mobile, PoS, MicroATM and Web for retail, online access for B2B and B2C. It is built to service the nation's large Telecom/DTH Operators, Utility billers, Services Providers, Large Format Retail Chains and Banks, pan India.
Oxigen Micro ATM was launched in July 2016, is a unique device and the only PoS Terminal, that has Aadhaar integrated to facilitate AEPS (Cash In/Cash Out), Bank Transfers, eKYC using Aadhaar, NFC (Tap Pay), Card Payments (Rupay, Visa, Master Card), Cash @ PoS using Cards to withdraw money just like an ATM, in addition to all Oxigen Services.
Currently Oxigen has a retail footprint of 2,00,000 outlets, 10,000 Micro ATM points and has processed over 4 billion transactions till date with a current transaction volume rate of 600 million transactions per annum with a customer base of over 150 million.
Oxigen has a single transactions & payment processing platform, that is device agnostic. Services include Branchless Banking, Telecom, Internet data and DTH Prepaid, Postpaid Recharges, Money Transfer, Recharges, Travel (IRCTC Railways/Airlines/Bus) Tickets, Movie Tickets, Utility Bill Payments, Gaming, Music & Movie downloads & much more.
Oxigen’s Service offerings doesn’t stop here. It also launched India's first mobile wallet, Oxigen Wallet, used for Money transfer/ Mobile/DTH/Data Recharges, Postpaid, Utility Bill payments, Virtual Visa and Gift Cards since 2007. Oxigen Wallet is an RBI approved Mobile wallet, a B2C service. It has tie ups with over 80+ brands and 250+ Banks. Customers earn loyalty points and can use social channels like whatsapp, twitter, sms, email, etc. to send, receive and gift money.