ATMs in India to be replaced with innovative ones: Check out features

Hyderabad: Existing ATMs in India will soon be replaced with more innovative and multi-function machines.

This will happen in the next three to four months, NCR Corporation has said.

The ATM market in the country has gone down in the country post demonetization but NCR believes that with the replacement of existing ATMs, the market would return to 9 percent annual growth rate as the progression to cashless economy will be slow.

Here are the new features that the ATMs will have

1. The multi-function ATMs will have innovative features like face recognition and biometrics.
   
2. Innovative features will facilitate customers in transferring money and depositing cash and cheques.
   
3. The machines will not run out of money as the cash deposited by customers will be dispensed.
   
4. NCR has come out with innovations like Interactive Teller ATM and EMV contactless ATM from its research and development centre in Hyderabad.

The existing ATMs were deployed 8 to 10 years ago and with the deployment of multi-function machines in metros, the existing ones will be moved to tier II and tier III cities.

The company executives shared these thoughts while announcing opening of their research and development centre in Hyderabad, its largest R&D centre outside the US.

With IANS Inputs