Taking forward the vision of the Reserve Bank of India (RBI) to boost digital payments infrastructure in the North East, Mswipe launched ATM Express to empower merchants to offer micro ATM facilities at their point-of-sale (POS) terminals to customers. Mswipe is the largest POS merchant acquirer and leading end-to-end digital enabler of Small and Medium Enterprises (SMEs).
Last year the RBI set up Rs 500-crore Payment Infrastructure Development Fund (PIFD) to improve digital payments in rural areas and north east region. The valued added service by Mswipe is in line with the scheme and aims to incentivise merchants to adopt digital payments as micro ATM services boost footfalls and revenue.
Through ATM Express customers will be able to withdraw cash, check account balance among other features. The service will increase access to banking facilities through the SME network in Agartala, Aizawl, Dispur, Gangtok, Imphal, Itanagar, Kohima and Shillong. ATM Express will also be available in Tier 3- 6 cities in the north east with limited ATM facilities and bank branches. Mswipe’s ATM Express is a cost-effective way for banks to serve their customers, as it eliminates the cost of setting up TM kiosks and overheads. Customers can withdraw a maximum of Rs. 10,000 twice a day from the ATM Express at no additional cost.
