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Categories : Innovation contributes to the efficiency of cash
August 10, 2016
Tags : ATM, Automation, Cash-in-Transit, Commercial bank, Innovation
The Centre for Intelligent Systems of SPPU recently developed a handheld ATM device that allows users to order cash that is directly delivered to their doorstep.
Communication Team / Equipo de Comunicación

The Centre for Intelligent Systems of the Savitribai Phule Pune University (SPPU) in Pune, Western India, has recently developed a portable ATM device that allows users to order cash via a secure biometric system. 

The micro ATM machine can be used by individuals or be installed at the workplace. Once the order is placed by the user, the bank is notified and the money delivered in the following 30 minutes. CEO of the National Payments Corporation of India (NPCI) stated that the system is already being used by some private banks across the county.

The identity of the cash requestor is verified via iris and fingerprint scans as well as through his/her Aadhaar card number. A receipt is printed for the user as well as the bank, and a delivery person is thereafter sent by the bank settle the transaction.

The patented system could be revolutionary, particularly for the elderly and the disabled.

To read The Times of India’s original article, click here