BANKIT is working to improve banking infrastructure in the rural areas of India with micro ATMs and Aadhaar Enabled Payments Systems. The organization is looking to complete its project by December of 2020, and it will allow those living in rural environments to access basic banking services.
Micro ATMs are able to easily process card transactions, and are a good low-cost option to provide banking infrastructure. The machines are a good option that can be easily implemented to increase banking accessibility for underserved communities.
Aadhaar Enabled Payment Systems allow people to make payments and financial transactions using unique identification numbers. It also provides a cost-effective way for people to withdraw money, which can be used in place of traditional ATMs. This allows people to access cash when they are too far from an ATM.
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