“Customers simply need to dip their card at an Indicash™ ATM, enter the PIN followed by the 16-digit debit card number of the beneficiary and confirm the amount to be transferred.,” Tata Communications Payment Solutions Limited said.
The amount gets debited from the primary account linked to the sender’s debit card and credited to the account linked to the beneficiary’s debit card instantly.
Indicash network comprises over 5,500 ATMs deployed across 22 states and 3000 towns.
Indicash ATM users can also enjoy the convenience of requesting a cheque book and account statement of the primary account linked to their debit card through the Indicash ATMs.
All of the above services can be availed by customers of banks that have enabled these services, eliminating the need to visit a bank branch.
“We strongly believe that ATMs are an important banking channel and the first step towards electronic banking. These new value added services will be a big advantage in the underserved banking geographies with no access to bank branches or online banking, serving customers when, where and how they want to do their banking with our multi-purpose ATMs,” said Sanjeev Patel, CEO, Tata Communications Payment Solutions Limited, a unit of Tata Communications.
Like most other bank ATMs, Indicash offers a host of cash and non-cash services such as cash withdrawals, balance enquiries, mini-statements and PIN change. It accepts all domestic debit cards with the first five transactions per month being free, in line with RBI regulations for use of ‘other bank’ ATMs.