RapiPay, India’s fastest-growing fintech company that uses a franchised retail network to provide Banking Business Correspondents (BCs) services to customers has recently launched Micro ATMs (mATMs) pan India. The company, which is the Fintech subsidiary of Capital India Finance Limited (CIFL), firmly believes that for ATM cash withdrawals, Micro ATMs are a game changer for Indian consumers, especially the marginalized population located in Tier 2, 3 towns and rural India.
Mr. Yogendra Kashyap, MD & CEO, RapiPay said, “Our Micro ATMs have received a tremendous response from the market and we have been able to install over 25,000 devices within a month of its launch. RapiPay Micro ATMs are revolutionary in comparison to the conventional ATM machines and offers utmost ease to the consumers enabling them to withdraw cash and do other similar banking activities at any RapiPaySaathi store.”
India being in the high-cash economy regions, millions of transactions are already happening via Micro ATMs. Micro ATMs were instrumental in facilitating cash withdrawals during the current pandemic, especially for withdrawal of Government’s disbursement of Rs 1.75 lakh crore into Jan Dhan accounts.
