Mahagram, India’s first Fintech to launch “Branchless Banking” on Android POS.

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As planned, Mahagram is deploying its Micro ATM on its retail network of eGram Kendra. The Micro ATM will enable the consumer from any part of the country to go and withdraw cash from their accounts from nearby eGram Kendra or Mahagram Outlets. These Micro ATM are built on an Android POS and will also have value- added services, not only limited to Aadhaar, PAN Card, Utility bills and so on, placing the bar higher for the next generation of mobile payments. One can transact both indoor and outdoor effortlessly while managing inventory, payment, reports and analysis and customer engagement activities.

The peculiarity of Android POS is the outcome of integrating key-edge hardware functionality with the Android Operating System which assists the merchants/business owners to use the device like a Smartphone filled with scalable banking, finance and eGovernance apps.

Banks are planning to utilize the large nationwide UID (Aadhaar) coverage, to help rural masses with Aadhaar enabled micro ATMs as they facilitate multiple financial inclusion solutions. Through the Android POS device, merchants can accept payments from credit cards, debit cards, wallets, online payments, UPI, Bharat QR and offer EMI option. Android POS will provide a variety of services like cash Withdrawal, Cash Deposit, Balance Enquiry, Mini Statement, Loan repayment, Loan disbursement, Domestic Remittance Services, Customer enrollment, eGovernance, Account opening, PAN card and eKYC of customers.

On this occasion Ram Pathade, CEO, Mahagram, said” This is a path breaking initiative not only for Mahagram but also for our country as a whole. This will also align with PMs Digital India initiative to enable or to take the technology to every common man of the country.”

He added, “Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed. And people loves Android”

The payments can be accepted anywhere shaping it a complete omnichannel payment solution. Apart from accepting payments, the Android POS allows merchants generate bills, invoices, and track sales along with transactions on a daily/weekly/monthly manner. Business owners can also consolidate their customer database, inventory, issue printed receipts and track the device through the GPS functionality.

It provides multiple solutions to help Indian merchants operating in different industries adopt digital payments rapidly — it is affordable, portable, easy to use and highly customizable. It will accelerate the pace of digital inclusion for millions of local merchants and customers in India. 

About Mahagram

Mahagram is Mumbai based financial technology company focusing on financial inclusion and last mile delivery of financial and eGovernance products and services. By partnering with banks and financial institutions providing hundreds of millions of Indians who are under-banked and who do not have the capability to resolve basic banking services and government schemes. Approx. 70% of Indian population is in rural India. And that’s the right target segment.  Mahagram is facilitating these banking needs with the help of aadhaar and its digital banking platform called “eGram”.

The objective is to help customers with travel costs, retails and financial services through the internet. They help government and its local government bodies with automated and computerized certificate issuance, eGovernance PAN Card & Tax/Cess collection. Their mission is to entitle every Indian with an easy means of approach to digital payments.

With this payment technologies and easily accessible usage, people of rural and semi-rural areas across India can leverage upon the offered facilities. The purpose of Mahagram is to make it easy for customers who are under no-data connectivity or still using old feature phones. This initiative is sure to act as a major catalyst for digital payments a big leap towards digital India.