The country’s leading financial services platform Mswipe announced the launch of the micro-ATM service ‘Ms Express’ (Mswipe’s ATM Express) for SMEs. Through this service, merchants can offer point-of-sale (POS) terminals to their customers for cash withdrawal and balance checks. In this way, the number of people coming to the merchant location through ‘ATM Express’ can increase and merchants can earn extra by increasing their commission.
Tier 2, 3 and 4 cities, especially those with limited ATM facilities and bank branches, will use ATM Express to enhance banking facilities through its SME network. According to the RBI, as of June 2020, an estimated 84 crore debit card holders and about 2.10 lakh onsite and offsite ATMs were operational in India. On an average there is an ATM for more than 4,000 debit card holders, and their number is even less in Tier 3 and 4 cities.
You can withdraw so much money from ATM Express
Mswipe ATM Express is an economical way for banks to provide services to their customers, as it eliminates the expense of maintaining ATM kiosks and thus the expenses on items like rent, maintenance, CMS and security. Can also be saved. Customers can withdraw a maximum of Rs 10,000 from ATM Express twice a day at no additional cost.
Manish Patel, Founder and CEO of Mswipe said, Deupcham has always been at the forefront of helping SMEs to grow their businesses further through our innovative and user-friendly digital payments solutions. Our ATM Express service is a natural extension of the potential for Value Added Services (VAS) through the smart POS terminals of Dupacham. This enables both merchants and retailers to raise more facilities for their customers. It will also serve as an additional source of revenue for SMEs, will increase footfall in their stores, and will also help in preventing long queues outside banks’ ATMs.
This is how earnings will be made
Merchants will earn commission in lieu of providing ATM Express facilities and their customers will only have to pay the fee as per the issuing bank’s charges for availing ATM services.
Convenience will also be available in small shops
Mswipe Business Head – Micro ATM and VAS Vivek Patil said, availing ATM services in Tier 2-4 cities is not less of a challenge due to limited number of ATMs or non-functional facilities. In such times, by providing micro ATM services at POS terminals, which are available even in small shops, we are empowering merchants to make their customers’ lives easier. Also through these services, they generate even more revenue for themselves.
Mswipe is the only company in the country to offer a complete range of digital payment solutions for SMEs. These include UPI QR, NFC based tape and Pay, POS and Payment Link. The company is the largest POS acquirer with 6.75 lakh POS and 1.1 million QR merchants. The company’s prepaid moneyback cards are also being issued the fastest.
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