Visakhapatnam

Fino Payments Bank launches ‘human ATM’

Fino Payments Bank launched its ‘human ATM’ here on Friday at Anuradha Auto Service Centre, a Bharat Petroleum (BPCL) outlet.

The outlet has become the banking point of Fino Payments Bank. Equipped with Fino’s Micro ATM and Aadhaar-enabled payment system (AePS) devices, the staff at the outlet transform into a human ATMs, helping people with deposit, withdrawals or money transfer transactions and even open new accounts. Customers can also purchase insurance (health, life, COVID and motor) pay utility bills, recharge mobile and DTH at the BPCL outlets.

“Fino’s objective is to help customers bank anywhere, any time by bringing services closer to their doorstep, especially in rural areas. Towards this we are making neighbourhood outlets such as local shops and BPCL outlets as banking points. The outlets are close by and are open till late in the evening allowing customers transact at their convenience either using a debit card or through Aadhaar authentication, without the need to visit a bank branch. Importantly, customers can focus on their work or business, while merchants can earn on every transaction. Also, cash is always available at these outlets unlike at some ATMs,” said Divakar Babu, Cluster Manager, Fino Payments.

Anuradha Auto Service is a part of the Fino’s 10,000 strong and growing network of banking points in Andhra Pradesh. This network also includes around 450 outlets of Fino’s strategic partner Bharat Petroleum (BPCL) spread across the State.

The points are spread across the remote rural areas of the State as well as Visakhapatnam district. With Fino’s neighbourhood banking services people in places such as Aruku, Paderu and other remote areas are enjoying the benefits of new age digital banking in an assisted manner, he said.

Customers of any bank can come and transact at these points. During the lockdown, people found the neighbourhood points extremely convenient to withdraw cash, especially beneficiaries of government schemes in villages, he added.

From April to September 2020, the BPCL outlet helped customers with transactions worth close to ₹3 crore clocking on an average ₹50 lakh per month. During the same period, Fino’s network of points did around ₹1,000 crore, said Mr. Divakar Babu.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Sep 21, 2021 10:02:55 AM | https://www.thehindu.com/news/cities/Visakhapatnam/fino-payments-bank-launches-human-atm/article32817076.ece

Next Story