We normally use ATMs for taking money from banks ATM, paying premiums of insurance policy. Recently, Private financial institutions announced that additional facilities are to be included in ATM.
Additional facilities include taking money, depositing money and to book flight and train tickets. In addition to these facilities, commercial companies can advertise their products on ATM by paying specified amount of money. It will be easy for people to get their plane and train tickets booked through ATM at time without standing in queue for long time.
New ATMs to be launched with more facilities are named as “White Label ATM”. Reserved bank has also approved private companies to set new ATMs with modern facilities.
This White Label ATM firstly launched by Tata Communications Payment Solutions (TCPS) at Mumbai near tier V-town in July. It is named as ‘Indicash’ by the company.