FINO Payments Bank PAX D180 Mini ATM - Pin Pad

Brand: FINO Payments Bank

Color: Black

Model: PAX D180

Warranty: 1 Year

Product description

Fino Payments Bank PAX D180 Mini ATM machine is used to withdraw cash and check bank balances using almost all bank's debit cards and also used to generate ATM PIN  of Fino Payments Bank's Saving and Current accounts.

Maximum commission per withdrawal: Rs.10

Maximum withdrawable amount per transaction: Rs.10,000

Daily maximum withdraw limit per card: Rs.10,000-Rs.50,000 (depending upon the respective bank and card's daily withdraw limit)

 Basic Features:

• Item: Point of Sale Terminal
• Model: PAX D180 (Pin Pad)
• Connectivity Type: Bluetooth

Box includes:

1. Point of Sale Terminal (Mini ATM)
2. User manual
3. USB Cable

Manufactured by:

PAX Technology Inc.

Imported & Marketed By:

FINO Payments Bank

-:Commission Slab of FINO Micro ATM:-

Commission as of January, 2023

Fino Payments Bank: A Prominent Player in India's Financial Inclusion Efforts

Fino Payments Bank is a payments bank based in India. It was one of the 11 entities that received in-principle approval from the Reserve Bank of India (RBI) in August 2015 to set up a payments bank. The bank officially launched its services in 2017, with a focus on serving the unbanked and underbanked population in India through its network of banking correspondents and mobile banking services.

As a payments bank, Fino is able to accept deposits up to a maximum balance of INR 1,00,000 per individual customer, and offer a range of banking services including small savings accounts, payments and remittance services, and mobile banking. Additionally, Fino also provides other financial services, such as loans and insurance, through its partnerships with other financial institutions.

Fino's target market is the underbanked population in India, particularly migrant labor workforce, low-income households, small businesses, and other unorganized sector entities. By providing these individuals and businesses with access to basic banking services, Fino is helping to promote financial inclusion in the country.

In terms of performance, Fino has shown strong growth in its customer base and deposits. As of December 2020, the bank had over 5.5 million customers and deposits of INR 1,700 crore. Additionally, Fino has been recognized for its efforts in promoting financial inclusion, receiving several awards including the "Best Payment Bank" award at the Indian Digital Banking Awards in 2020.

In conclusion, Fino Payments Bank is a well-established and growing payments bank in India that is playing a key role in promoting financial inclusion in the country. Its focus on serving the unbanked and underbanked population, along with its strong growth and recognition in the industry, make it a noteworthy player in the Indian banking sector.

Understanding the Role of Payments Banks in Promoting Financial Inclusion in India:

Payments banks are a new model of banks conceptualized by the RBI to further financial inclusion in the country by providing small savings accounts and payments/remittance services to migrant labor workforce, low income households, small businesses, other unorganized sector entities and other users.

To apply for a new FINO Payments Bank Retailer CSP/BC Merchant id, click here.

To order in bulk quantities and get a wholesale price on FINO Payments Bank Mini ATM machine, click here.