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In order to provide digital banking services in unbanked rural and remote areas of India, BANKIT targets to install 1.5 lakh micro ATMs and Aadhaar Enabled Payment System (AePS) service points at BANKIT outlets by December’ 2020..
To make inroads in the rural markets, the company has prepared an assisted agent led model which works to offer digital and financial services to the last mile present as their very own corner shop in the vicinity. Banking and financial services along many value-added services are available for end customers through BANKIT channel partners in their neighbourhood. Services like domestic money transfer, cash withdrawal, prepaid cards, recharges, bill payments, travel bookings among other such utilities are made available 24X7 through brand’s proprietary web and mobile applications. These applications are made user friendly as per the needs of the target users and are hi-tech to make the transactions secure and instant.
BANKIT is offering digital financial and non-financial services to masses via assisted B2B2C agent outlets. The vision of the company is to make “Millionaire Agents Network” (MAN) to maximise the number of agents who are able to make Rs. 10 lakh as revenue in a year by delivering various BANKIT services. Hence, BANKIT is creating entrepreneurs and targets to expand its outlets and branded stores across India to provide the easiest, fastest and safest digital payment platform and all the digital services under one roof to the last mile of society.
Micro ATMs are very low-cost PoS enabled machine, that processes card transactions seamlessly. Its affordable and low maintenance, micro ATMs can be effectively drive financial inclusion while curbing down the infrastructure cost incurred, especially in rural and semi urban areas, where a full-fledged ATMs become unavailable. BANKIT cash withdrawal service through debit card and Aadhaar is cost effective and a smart cash management toll for small retail stores and traders who deal in large chunks of cash on a daily basis.
Speaking on the initiative, Amit Nigam, Executive Director & COO, BANKIT, said, “A large population in India is still not a part of digital economy and banking system. Digital literacy is far from 100 percent in India and a major chunk of the population is still not self-serviced for basic banking and financial needs. Lack of ATMs and bank branch in rural and semi urban areas adds to the concern which hampers financial inclusion. We are trying to bridge this digital divide across urban and rural areas by offering digital financial and non-financial services to masses via assisted B2B2C agent outlets and installing Micro ATMs and AePS along providing DMT and other value added services.”