Hitachi Payment Services has collaborated with NPCI to create an Android-based cash recycling machine. Many digital banking services will be available through this unique ATM.
Bank New Service: Till now you must have used ATM to withdraw money or Cash Deposit Machine (CDM) to deposit money. Now a unique machine like ATM has come, with which many bank related works can be done. Actually, Hitachi Payment Services has created a unique ATM in collaboration with National Payments Corporation of India (NPCI). In this Android-based cash recycling machine (Android Based CRM), many facilities will be available including applying for loan or credit card, investing in FD.
Android-based CRM was launched during the Global Fintech Festival 2024. It is not a common ATM but is capable of working as an entire bank branch.
Android-based CRM will work as a digital banking unit
According to RBI, Android-based CRM will be able to work as a digital banking unit. A Digital Banking Unit is a ‘specialised fixed point business unit/hub’ that will deliver digital banking products and services as well as offer existing financial products and services in a self-service mode.
These facilities will be available in Android-based CRM
Banking customers can avail a wide range of banking and non-banking services through this ATM. Apart from QR based UPI cash withdrawal and deposit, you can open a new bank account, apply for credit card, personal loan, recharge, take insurance and fastag.
How will people benefit from Android-based CRM
Banking services will be easily accessible in remote areas.
Many types of banking facilities will be available through a single touchpoint.
Customer security will increase due to no need for physical cards.
24/7 service will be available through this.
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