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Mumbai, June 8 (IANS) Soon, you may be able to withdraw cash from an <keyword id="48577" type="TECHNOLOGY" weightage="20" keywordseo="ATM">ATM</keyword> without touching any part of the machine. AGS Transact Technologies, a provider of cash and digital payment solutions and automation technology, on Monday said it has successfully developed and tested a touchless ATM solution in light of the Covid-19 pandemic. The 'contactless' solution, currently under demo at interested banks, enables a customer perform all the steps required to withdraw cash from an ATM using the mobile app itself. The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank's mobile application. This includes entering the amount and mPIN required to dispense the cash from the ATM machine. According to the company, the QR code feature makes cash withdrawals quicker and more secure, and negates the chances of compromising the ATM Pin or card skimming. "The new Touchless ATM solution is an extension of the flagship QR Cash solution which ensures safety of the users and will provide a seamless cash withdrawal experience with enhanced security," said Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Ltd. With minimum investment, the banks can enable this solution for their ATM networks by upgrading the existing software. AGSTTL has so far installed, maintained and managed a network of over 72,000 ATMs across the country and also provides customised solutions to leading banks. The company earlier introduced UPI-QR based Cash withdrawal solution in partnership with Bank of India. This is how the solution works. Open the Bank mobile application on your smartphone and select QR Cash Withdrawal. Enter the amount you wish to withdraw on the mobile app and scan the QR code on the ATM screen. Next, confirm the amount by clicking on 'proceed' in the app and enter the mPin to authenticate the transaction. Now collect the cash and receipt and you are done. "The seamless, cardless and touchless withdrawal method is designed to provide easy transaction flow, without the need to touch the ATM screen or enter the pin," said Mahesh Patel, President and Group Chief Technology Officer, AGS Transact Technologies. --IANS na/

Customers will soon be able to withdraw cash from ATMs using smartphones

With the government proposing that <keyword id="60866" type="PERSON" weightage="20" keywordseo="ATMs">ATMs</keyword> should not be replenished with cash after 8 PM in cities, ATMs could soon disappoint if you need cash at the dead of the night. 
 
The proposal says that private cash transportation agencies must collect cash from the banks in the first half of the day for replenishing ATMs. 
 
Also, specially designed cash vans, fitted with CCTV and GPS, should not carry more than Rs 5 crore per trip. Such vans must have two independent compartments, with the one for storing cash to be separated and locked from passenger compartment and the cash compartment being specially reinforced with steel and only one door which can be opened internally through a manual or electronic lock. The cash boxed must also be secured to the van floor with separate chains and padlocks with their keys entrusted to separate custodians, Centre says. 
 
At all times, two armed guards and driver in each van must be trained to "disengage with the situation and drive vehicle to safety" in case of an attack. They must be trained comprehensively over 160 hours before being put on the job - specifically to spot threats and risks like being tailed by vehicle-borne criminals, insider's threat and how to use weapons to deter and resist criminals while disengaging with the situation and driving vehicle to safety. 
 
Antecedents of private guards and drivers hired by private security agencies must be verified by police and each such individual be asked to produce two guarantors of "good standing", including one serving or retired government servant, at the time of getting the job. These are all part of a new guidelines and risk mitigation procedures the government is proposing for secured cash movement by leading private players in the industry. 
 
It’s pertinent to note here that heightened security is called for as nearly 8000 privately owned cash vans ferry around Rs 15000 Cr daily between banks, currency chests and ATSs - they also hold nearly Rs 5000 Cr overnight in their private cash vaults on behalf of the banks. There have been a spurt in attacks, hijacking and looting of cash vans which are seen as soft targets.

BAD NEWS! Now, you may not get cash from ATMs late at night, thanks to Centre’s new proposal

MUMBAI: The Reserve Bank of India’s move to curb the number of free transactions in automated teller machines (<keyword id="48577" type="TECHNOLOGY" weightage="100" keywordseo="ATM">ATM</keyword>s) would result in a surge in cash in the <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> and reduce viability of the 1.6-lakh-strong ATM network. Any drop in volumes would hit <keyword id="6362476" type="ORGANIZATION" weightage="60" keywordseo="investments">investments</keyword> in ATM <keyword id="50752" type="UNKNOWN" weightage="80" keywordseo="Networks">networks</keyword>, which are seeing declining usage with growth in number of machines. 
 A report by Ashish Das — a <keyword id="6356384" type="POSITION" weightage="80" keywordseo="Professor">professor</keyword> at <keyword id="6355690" type="CITY" weightage="60" keywordseo="IIT-Bombay">IIT-Bombay</keyword> — analyzing ATM transactions has suggested increasing free transactions to 12, revising the fees that banks pay one another for ATM use and removing disincentives on use of debit cards as an alternative for payments. 
 
The RBI had reduced the number of free transactions of third-party bank ATMs, effective November, following protests by banks that they were losing money because of their customers’ frequent cash withdrawals. 
 
Today, a third of all cash withdrawals takes place at third-party ATMs. Average third-party ATM transaction volume had soared by 70% to 1,300 per month in 2010 after the RBI brought in the concept of free unlimited withdrawals at ATMs of other banks. However, the figure dropped to 1,150 after RBI capped monthly withdrawals at other banks’ ATMs at five. 
 
The report estimates that the average transaction in an ATM costs banks less than Rs 17 even after factoring in the new security measures that they are required to install. But this is assuming that the number of transactions do not fall. 
 
In the last three financial years, the number of ATMs grew at a sharp rate of 112%, but there has been a 35% reduction in the average number of financial transactions per ATM. The average number of withdrawals per day have dropped from 176 per day to 111 per day from April 2011 to May this year. 
 
 
 
There is a risk that this number could fall further as banks are planning an even greater number of ATMs and private operators are in the process of installing thousands of ‘white label’ ATMs. 
 
According to Das, in an ideal situation, use of each other’s ATMs is expected to more or less nullify the interchange charges that banks pay one another. But some banks end up being net payers because they have issued more cards in proportion to their ATMs. Banks like SBI are also hit because withdrawal by its own customers is low-value, whereas private bank customers make large, chunky withdrawals from SBI’s ATMs. But in both cases, the interchange fee is the same, irrespective of value. 
 
The report recommends banks pay each other a fixed fee of Rs 5 plus 0.2% of the amount withdrawn, subject to a cap of Rs 25 per transaction. “The impact of bringing in behavioural changes in ATM usage through reducing cross-ATM usage (by imposing a fee) is not to the gain of banks and customers alike. It would invariably reduce the number of overall usage per ATM and thereby increase inefficiency and cost to banks to run ATMs even for their own customers. Furthermore, such a change will force an increase in cash-in-hand with bank customers as they will lean towards withdrawing more cash than required to avoid frequent ATM use and consequential fees,” the study said.

Cap On Free Use May Hit ATM Business Model

<ul class="summary-list"><li><keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> ATMs can easily be attacked because of their poor security, according to a report by <keyword id="11940401" type="UNKNOWN" weightage="60" keywordseo="kraken" source="Orion">Kraken</keyword> on Wednesday.</li><li>ATMs' server addresses, applications and security can be tampered with.</li><li>The US has the most bitcoin ATMs in the world, followed by Canada.</li></ul>Bitcoin ATMs may seem like a fairly safe proposition, but a report by <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> exchange <a href="https://blog.kraken.com/post/11263/kraken-security-labs-identifies-vulnerabilities-in-commonly-used-bitcoin-atm/">Kraken </a>on Wednesday showed the network in the United States in particular is vulnerable to hacks, partly because of its poor security systems.Bitcoin ATMs allow people to convert their dollars into cryptocurrency, but basic things such as their server address, applications and security can easily be tampered with, the report said.The machines are spread around the world, but there are over 22,235 in the US alone, far more than any other country, according to <a href="https://www.statista.com/statistics/343147/number-of-bitcoin-atms-countries/">data </a>by Statista. In second place is Canada, which only has 1,776."Bitcoin ATMs offer a convenient and friendly way for consumers to purchase <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword>. That ease of use can sometimes come at the expense of security," the report said. One brand of ATM in particular - the GBBATM2 - requires users to be particularly alert, the report said. In addition to the problems that are common to a lot of ATMs, many of the owners of this brand were not changing the default QR code, which can be common across different ATMs, making them easy to take over, the report said. It means these ATMs can easily be unlocked, they have no alarm and their Android-based operating systems allow anyone to install applications, so an attacker can easily generate their own authentication requests because there are no cross-site forgery protections in place."The device contains no local or server-side alarm to alert others that the internal components are exposed. At this point, a would-be attacker could compromise the cash box, embedded computer, webcam and fingerprint reader," the report said. The exchange advised users to only use ATMs that they trust and make sure they are well protected and have surveillance cameras. Kraken is one of the largest crypto exchanges in the world.

The US network of bitcoin ATMs is vulnerable to hacks, according to crypto exchange Kraken

<a href="https://www.businessinsider.com/category/master-your-crypto"></a><div type="image" title="Vape &amp; Smoke Shop in West Palm Beach, Florida" height="1277" width="1703" msid="92133005" hostid="261"></div><ul class="summary-list"><li>A Cryptobase ATM bills itself as a convenient way to deposit cash and invest in cryptocurrency.</li><li>I deposited $20 into the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> ATM and later received $13.22 in <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> after fees.</li></ul>A cryptocurrency ATM sits at the front of a <keyword id="12319206" type="UNKNOWN" weightage="60" keywordseo="vape" source="Orion">vape</keyword> shop in <keyword id="14165857" type="UNKNOWN" weightage="60" keywordseo="west-palm-beach" source="Orion">West Palm Beach</keyword>, Florida.The white kiosk, installed by Cryptobase ATM, bills itself as a <a href="https://www.cryptobaseatm.com/" target="_blank" rel="nofollow noopener sponsored">quick, easy, and secure</a> way to deposit cash and invest in bitcoin, bitcoin cash, litecoin, or ether, allowing customers to bypass putting in their banking information.While reporting on the Blockworks Permissionless conference in South Florida, I stopped by to see how practical using a Cryptobase ATM would really be.The whole process took about 40 minutes, and I ended up losing 33.9% of the $20 I deposited. I wasn't thrilled with the outcome, but it may make sense if you'd prefer using familiar technology like an ATM to an online crypto exchange.The ATM was in Vape &amp; Smoke Shop in West Palm Beach. Shelves are lined with hookah pipes, rolling papers, and nicotine cartridges. Storefront windows are covered in neon signs and stickers that read "<keyword id="11931675" type="UNKNOWN" weightage="60" keywordseo="bitcoin-atm" source="Orion">bitcoin ATM</keyword> Cryptobase," "CBD," "cigars," and "no loitering."On a Thursday afternoon, the kiosk was unoccupied, so I had a zero-minute wait. A store employee told me that on a busy day about five people will use the machine, typically the same people.The <a href="https://www.coindesk.com/learn/what-you-need-to-know-before-buying-bitcoin-at-an-atm/" target="_blank" rel="nofollow noopener sponsored">first crypto ATM</a> sprouted up in 2013 at a coffee shop in Vancouver, British Columbia. According to <a href="https://coinatmradar.com/" target="_blank" rel="nofollow noopener sponsored">Coin ATM Radar</a>, there are about 38,000 crypto ATMs across more than 75 countries, with about <a href="https://coinatmradar.com/countries/" target="_blank" rel="nofollow noopener sponsored">33,500</a> of those in the US.Cryptobase's chief operating officer, Michael Telvi, told Insider in an email that it has 175 kiosks installed and plans to expand "rapidly throughout the US to most major cities." Telvi said the company has seven full-time employees and has outsourced much of its operations.<div type="image" title="Cryptobase ATM" height="727" width="969" msid="92133006" hostid="261"></div><h2>How it works</h2>At the Cryptobase ATM, I entered my phone number to create an account, scanned the QR code for my digital wallet, deposited cash, and later received bitcoin.Within seconds of entering my phone number, I received an SMS code to punch into the ATM to verify my identity and make an account.A warning in capital letters appeared on the screen: "WE ARE NOT RESPONSIBLE FOR ANY LOSS OF FUNDS DUE TO SCAMS."The message may be for good reason. On January 10, the Federal Trade Commission <a href="https://consumer.ftc.gov/consumer-alerts/2022/01/new-crypto-payment-scam-alert" target="_blank" rel="nofollow noopener sponsored">issued a warning</a> about <a href="https://www.yahoo.com/lifestyle/scam-directs-victims-crypto-atms-115431152.html" target="_blank" rel="nofollow noopener sponsored">scammers impersonating officials</a> and directing victims to send funds via QR code and a cryptocurrency ATM."Here's the main thing to know: Nobody from the government, law enforcement, utility company, or prize promoter will ever tell you to pay them with cryptocurrency. If someone does, it's a scam, every time," the agency said in a <a href="https://consumer.ftc.gov/consumer-alerts/2022/01/new-crypto-payment-scam-alert" target="_blank" rel="nofollow noopener sponsored">statement</a>.After the ATM's warning, I set a four-digit passcode for my account and selected a token I wanted to buy. The screen prompted me to deposit $20 to $16,000. This location did not offer cash back — so if a customer were to deposit $100, they'd have to invest that full amount.Then I selected which way I wanted to receive my bitcoin. To do this with the Cryptobase ATM you must have a crypto wallet, many of which accept bitcoin. I pulled up my Coinbase Wallet app and scanned its barcode.Like I would at a traditional ATM, I received a receipt detailing my purchase.<h2>Would I do it again? Probably not</h2>There are disadvantages to the Cryptobase ATM, including its exorbitant fees.I paid a 20% exchange fee along with a $3 ATM cost. I deposited a $20 bill and received $13.22 worth of bitcoin in my wallet about 40 minutes later. Both flat fees apply regardless of the amount you deposit.As someone who rarely carries cash, I felt that using the ATM is unnecessary when there are already major exchanges like Binance or Coinbase that I don't have to leave my apartment to invest with.This kiosk also limited purchases to $16,000, whereas some exchanges have larger maximums — and I can connect my bank cards to those.Critics of centralized exchanges, however, may prefer a Cryptobase ATM.It doesn't require you to enter your banking information, only your phone number. The Cryptobase ATM was faster and easier to navigate than setting up an account with an online exchange. You don't have to be tech-savvy to use a crypto ATM because it parallels an experience most of us are already accustomed to.So if you're someone who wants the accessibility and user interface of a regular ATM, doesn't mind 20% fees, and actually has cash, this may make a lot of sense for you.Otherwise, you can use that money to buy a mandolin slicer, a travel steamer, or <a href="https://www.businessinsider.com/cheap-products-under-20-dollars-2016-9" target="_blank" rel="nofollow noopener sponsored">whatever else $20 can get you</a>.This article is intended to provide generalized information designed to educate a broad segment of the public; it does not give personalized investment, legal, or other business and professional advice. Before taking any action, you should always consult with your own financial, legal, tax, investment or other professional for advice on matters that affect you and/or your business.

I tried to use a crypto ATM. Here's what happened and why I won't do it again.

A working <keyword id="48577" type="TECHNOLOGY" weightage="20" keywordseo="ATM">ATM</keyword> is probably top-most on most people’s minds right now. Even as the government is working round the clock to get as many ATMs as they can get filled with cash, here's a quick step to make life easier for all concerned. 
 
It’s a ready reckoner of all the ATMs that are dispensing cash. 
 
<a href="http://atmfinder.cms.com/atmfinder/">Click here to find a live working ATM close to you. </a>

This ATM finder will make your life much easier

Cash and ATM management companies will soon be allowed to attract 100 per cent foreign direct investment as they are not required to comply with the Private Security Agencies (Regulation) Act (<keyword id="2544663" type="ORGANIZATION" weightage="20" keywordseo="PSARA">PSARA</keyword>), according to news agency PTI. A clarification to this effect is likely to be issued by the home ministry shortly. The clarification will be against the backdrop of the confusion among firms in cash and ATM management relating to compliance with the Act, under which they can receive <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword> only up to 49 per cent. The issue was discussed at a meeting convened by the Prime Minister's Office (PMO) last month. "In that meeting, it was decided that the home ministry would be asked to issue a clarification that these companies will not have to comply with PSARA and would be eligible to attract 100 per cent FDI," an official said. There are about a dozen cash management players in the country, including Writer Safeguard, SIS Securitas, CMS, Secure Value, Logicash, Brinks Arya, Securitrans and Scientific Security Management Services. According to experts, companies managing cash for banks have so far been caught in a policy tangle, with the home ministry insisting that 100 per cent FDI could not be allowed for them if they provide private security guards or armoured vehicles. Companies that make devices such as currency authenticators and sorting and currency counting machines will also benefit from this clarification, they added. Several players, including TVS Electronics and ITI, are in such businesses. Cash Management companies handle over Rs 40,000 crore of cash per day. The government in 2015 permitted 100 per cent FDI under the automatic route for white label ATM operations with an aim to promote financial inclusion. FDI into the country grew 22 per cent to USD 35.85 billion during April-December of 2016-17. Foreign investment is considered crucial for India, which needs around USD 1 trillion for overhauling its infrastructure such as ports, airports and highways to boost growth. A strong inflow of foreign investments also helps improve balance of payments and strengthen the rupee against other global currencies, especially the dollar.

Soon 100% FDI in ATM management companies

<ul class="summary-list"><li>El Salvador has installed its Chivo bitcoin ATMs throughout the US. </li><li>El Salvador President Nayib Bukele said on Twitter that Los Angeles and Chicago are among the locations where 50 ATMs are operating. </li><li>The aim is to make remittances to El Salvador cheaper and easier. </li></ul>El Salvador has installed its Chivo bitcoin ATMs in cities across the US to make it cheaper and easier for people to send money to their family and friends who live in the world's first country to make bitcoin legal tender. There are 50 commission-free <keyword id="12110219" type="UNKNOWN" weightage="60" keywordseo="chivo-atms" source="Orion">Chivo ATMs</keyword> in 10 cities in the US, locations where local legislation permit the machines, said El Salvador <a href="https://twitter.com/nayibbukele/status/1437625960115937281">President Nayib Bukele said on tweets posted this week</a>. El Salvador earlier this month rolled out bitcoin as legal tender and its national crypto wallet called Chivo. More than 2.3 million Hispanic people of Salvadoran origin, including US citizens, were living in the US as of 2017, according to figures<a href="https://www.theblockcrypto.com/linked/117826/el-salvador-brings-chivo-atms-to-the-us?utm_source=rss&amp;utm_medium=rss=rss"> cited by The Block</a>. The report also noted that remittances from the US in 2018 made up 21% of El Salvador's GDP and that Bukele has estimated Salvadorans spend $400 million a year on remittance fees. Chivo members can make withdrawals and recharge accounts at the ATMs and can use the wallet app to send either bitcoin or US dollars to people in El Salvador. People have usually used services such as Western Union to send money digitally from abroad for cash to be picked up.Locations for Chivo ATMs include Atlanta, Chicago, Dallas and Los Angeles, Bukele said in a tweet.

El Salvador has installed its Chivo bitcoin ATMs across the US to make remittances cheaper for Salvadorans living abroad

<ul class="summary-list"><li>Across major cities in <keyword id="13486" type="COUNTRY" weightage="60" keywordseo="Vietnam">Vietnam</keyword>, <keyword id="13726" type="PERSON" weightage="60" keywordseo="rice">rice</keyword> ATMs have been constructed to provide free rice for those affected by the coronavirus.</li><li>The ATMs are run on donations, and donors hope to make rice available for the coming months.</li><li>The dispensers abide by social distancing guidelines. People wait six feet apart from one another and sanitize before collecting the rice. </li><li><a href="https://www.insider.com/?hprecirc-bullet">Visit Insider's homepage for more stories</a>.</li></ul>Across major cities in Vietnam, rice ATMs have been constructed to provide <keyword id="6181" type="COMPANY" weightage="60" keywordseo="Food">food</keyword> for those negatively impacted by the coronavirus.Although the city has only <a href="https://coronavirus.jhu.edu/map.html">265 reported cases</a> at the time of writing, its <a href="https://www.businessinsider.com/vietnam-prepares-economic-impact-of-coronavirus-2020-2">economy</a> and residents have been largely affected. Businesses are closed, restaurants have shuttered, tourists have left, and many residents are out of work. In response, rice ATMs are being used to support locals and help offset the cost of food. <div type="image" title="vietnam rice ATM.JPG" height="3000" width="4000" msid="75145546" hostid="261"></div>Each day, people in Hanoi, <keyword id="22418" type="CITY" weightage="60" keywordseo="Ho-Chi-Minh-City">Ho Chi Minh City</keyword>, and Hue have lined up to receive a few pounds of rice."This rice <keyword id="48577" type="TECHNOLOGY" weightage="60" keywordseo="ATM">ATM</keyword> has been helpful. With this one bag of rice, we can have enough for one day," Nguyen Thi Ly told <a href="https://www.reuters.com/article/us-health-coronavirus-vietnam-riceatm/rice-atm-feeds-vietnams-poor-amid-virus-lockdown-idUSKCN21V0GQ">Reuters</a>. "Now, we only need other food. Our neighbors sometimes gave us some leftover food, or we have instant noodles." Ly's husband lost his job in Ho Chi Minh City, so the family of five is struggling to find things to eat, Yen Doug of Reuters reported. In Hanoi, the ATM opened Saturday and is scheduled to be open until April 30, or when the city runs out of donated rice. From 8 a.m. to 5 p.m., people form lines to wait for the food. They remain six feet apart from each other and use hand sanitizer before pouring the rice. Students, seniors, and people of all ages have been affected by the pandemic. <div type="image" title="2020 04 13T071440Z_1_LYNXNPEG3C0AN_RTROPTP_4_HEALTH CORONAVIRUS VIETNAM RICEATM.JPG" height="3343" width="4457" msid="75145556" hostid="261"></div>On the first day, over 700 people received the rice, according to <a href="http://hanoitimes.vn/hanoi-launches-a-rice-dispenser-to-help-underprivileged-overcome-covid-19-311712.html">Hanoi Times</a>.The ATMs run on donations, and over 30 people donated on the first day. The dispenser has 10 tons of the staple food. In Ho Chi Minh City, a dispenser runs 24 hours a day.In Hue, beyond rice ATMs, volunteers collected face masks and hand sanitizer for those in need, according to Vietnam news agency <a href="https://en.vietnamplus.vn/hue-da-nang-cities-set-up-free-rice-atms/171643.vnp">VNA</a>.<div type="image" title="FILE PHOTO: A man stocks rice to be placed into the 'Rice ATM', a rice dispensing machine, during the outbreak of the coronavirus disease (COVID-19), in Ho Chi Minh, Vietnam, April 11, 2020. REUTERS/Yen Duong" height="2737" width="3650" msid="75145563" hostid="261"></div>Other Vietnamese cities have caught on to the trend, and two dispensers are scheduled to open in Da Nang next week, according to <a href="https://www.worldometers.info/coronavirus/country/viet-nam/">VNA</a>. <ul class="read-more-links"><li>Read more:</li><li><a href="https://www.insider.com/italians-keep-spirits-high-during-the-coronavirus-pandemic-2020-3">12 ways Italians are keeping spirits high during the coronavirus pandemic</a></li><li><a href="https://www.insider.com/london-tour-guide-is-using-instagram-to-do-her-job-2020-4">A London tour guide is adapting to lockdown by taking her Instagram followers on virtual trips to the city's best hidden spots</a></li><li><a href="https://www.insider.com/rural-maine-seniors-groceries-volunteer-sled-dogs-2020-4">A 22-year-old is using her sled dogs to deliver groceries to her elderly neighbors in rural Maine</a></li><li><a href="https://www.insider.com/5-travelers-decision-to-stay-abroad-instead-of-traveling-home-2020-4">5 travelers told us why they decided to stay abroad instead of traveling back home</a></li></ul>Read the original article on <a href="https://www.insider.com/vietnam-rice-atms-provide-food-for-people-impacted-by-coronavirus-2020-4">Insider</a>

Volunteers in Vietnam set up rice ATMs to provide food for those impacted by the coronavirus

The Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="60" keywordseo="RBI">RBI</keyword>) has recently asked the banks to set up only ‘talking ATMs’ from 1 July, 2014. The RBI also directed the banks to come up with a plan to convert all the existing ATMs into ‘talking ATMs,’ along with Braille keypads. 
 
An RBI directive issued in 2009 had asked banks to make one-third of the ATMs voice-enabled. But it later revised its directive to make all ATMs voice-enabled. 
 
This is part of a number of directives issued by the RBI to make ATMs accessible for the differently abled. Some of the other directives include building ramps for wheelchair users, providing magnifying glasses for the visually impaired, etc. 
 
The ATM cards to be used at these ATMs will be the same as those issued at present; however, the machines will be different. ‘Talking ATMs’ are to be designed in such a way that the keypads of the ATM can be accessed by a wheelchair-bound user. These will also be equipped with a headphone and a voice-guidance technology in multiple languages. There should be Braille stickers for the visually challenged. 
 
Banks have the option of either setting up new ATMs or upgrade the existing ones by changing the software and the hardware. 
 <keyword id="2339604" type="UNKNOWN" weightage="100" keywordseo="Voice-enabled-ATMs">Voice-enabled ATMs</keyword> work on the text-to-speech format. The text on the screen can be heard using the headphone provided with the machine and it explains the user how to operate the machine.

You Searched For "ATM" and got 10 results

Customers will soon be able to withdraw cash from ATMs using smartphones

IANS

BAD NEWS! Now, you may not get cash from ATMs late at night, thanks to Centre’s new proposal

BI India Bureau

Cap On Free Use May Hit ATM Business Model

Times Of India

The US network of bitcoin ATMs is vulnerable to hacks, according to crypto exchange Kraken

Camomile Shumba

I tried to use a crypto ATM. Here's what happened and why I won't do it again.

Morgan Chittum

This ATM finder will make your life much easier

BI India Bureau

Soon 100% FDI in ATM management companies

BI India Bureau

El Salvador has installed its Chivo bitcoin ATMs across the US to make remittances cheaper for Salvadorans living abroad

Carla Mozée

Volunteers in Vietnam set up rice ATMs to provide food for those impacted by the coronavirus

Monica Humphries

Talking ATMs Demystified

BI India Bureau

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