Mini ATM Machine which is popularly known as Micro ATM Machine is a mini version of ATM that allows its users to swipe their debit card for daily transactions as well as for cash withdrawals. This handheld device is invented to disburse cash in the remote locations of India that are yet to be equipped with banking infrastructures.
ATM Machines are expensive in nature and they need a minimum number of transactions a day to cover up these expenses and run in profits but these transaction limits are not satisfied in the rural areas of India, where the population density is low and scattered. Thus in these rural areas it is not feasible to install an ATM Machine.
To overcome this problem, the government of India encourages rural centers to start with the service of cash dispersal through Micro ATMs since the MATM price is quoted as affordable and can function smoothly with less daily transactions.
Here is how Mini ATM Machine can prove to be a great source of income:
Micro ATM Machines are observed as a good business model, because of following reasons:
- In-demand business model
The rural parts of India are yet to be equipped with banking infrastructures and ATMs which causes grave problems of cash withdrawals in the town. In such areas installing a Micro ATM Machine for cash dispersal is definitely going to be a business in demand for every household and businesses. This will lead to an increase in the footfall of the shop where the ATM is installed.
Moreover Mini ATM Machine business model has unlimited demand and supply which creates no limitations for the business model.
- Low investment
Micro ATM machine price starts from 1999 rupees only which makes it a very low cost investment for starting a new business. Since the cost of investment is very low, the break even point also comes down which makes it an easily profitable business model.
- Requires no setup
ATM swipe machine is a handheld, portable and mobile device which can be carried to any place and requires no additional setup in the shop or anywhere else.
You can place this device in any drawer of your shop, on the counter or in any bag while traveling.
- Instant and Real-time commission
Most of the Micro ATM Machine companies offer instant and real-time commission on every transaction which enables a continuous flow of cash in the process.
- Lucrative Commission
To encourage the dispersal of cash in rural parts of the country, RBI Bank has asked all the Fintech companies in India to offer a very lucrative commission on each transaction of cash withdrawal through Mini ATM Machine.