wordpress blog stats
Connect with us

Hi, what are you looking for?

Oxigen to deploy 500 micro ATMs at petrol bunks through govt tie up

hindustan_petroleum_fuel_pump

Around 5000 micro ATMs will be installed across fuel stations on highways nearby rural areas, the ministry of petroleum and natural gas, said in a statement. Payment solutions provider Oxigen has been commissioned to install micro ATMs by the ministry which will allow withdrawals, cash deposits, balance enquiries and money transfers to Aadhaar-linked bank accounts.

Oxigen initiated the service last month and currently claims to have deployed Micro ATMs at over 1000 rural locations including in states of Bihar, Jharkhand and Orissa. It also deployed Micro ATMs in the urban areas as well including at 27 locations in Delhi NCR. In the future, Oxigen aims to install 3,000 additional micro ATMs by the end of December 2016. Oxigen had launched the Micro ATM service through a tie up with Telepower, China to develop the software back-end back in 2012.

Micro ATMs have been on the rise after the recent demonetization move. RIL’s Chariman Mukesh Ambani said last week that Reliance Jio will be installing Aadhaar-based micro ATMs through tie ups with offline merchants. Punjab National bank was reportedly modifying its PoS devices to act as ATMs. Other banks like SBI, AXIS Bank has also been providing the service for a while in metro cities as well as in airports. Note that the Micro ATM service was also available long before the demonetization move. HDFC bank had deployed PoS 1550 devices, which act as ATMs across across rural areas since July. PoS device provider Ezatap also partnered with the State Bank of India to launch micro ATMs in October 2015.

Users can swipe their cards at a merchant’s Point of Sale (PoS) counters and these machine connect to a bank’s secured server to debit the amount from the user. Bank officials or merchants will be present on the spot to disperse the debited amount to the user.

Common server for micro ATMs

Advertisement. Scroll to continue reading.

Last month an ET report said that the National Payments Corporation of India (NPCI) was in discussion with the Unique Identification Authority of India (UIDAI) to build a common back-end server for hosting transaction taking place via micro ATMs. Withdrawals and deposits would however be based on Aadhaar biometric authentication. This was aimed at reducing failed card transaction due to the multitude of requests jamming the current server that hosts debit/credit card transaction at PoS counters. NPCI’s chairman AP Hota had confirmed the development with ET.

Image Credits: Wiki User Ask27 under CC BY-SA 4.0

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ