Micro ATMs and MPOS (Mobile Point of Sale) are both financial technologies that have made banking and payments more accessible to people in remote and underbanked areas. In this article, we'll explore what Micro ATMs and MPOS are, how they work, and the APIs available for developers to integrate these technologies into their systems.

Micro ATMs

A Micro ATM is a handheld device that enables a customer to perform basic banking transactions such as cash deposits, cash withdrawals, and balance inquiries, using their Aadhaar card and biometric authentication. Micro ATMs are especially useful in areas where banking infrastructure is limited or non-existent, and people have to travel long distances to access basic financial services.

Micro ATMs work by connecting to a bank's core banking system via a secure network. The customer's Aadhaar card and biometric data are authenticated using a fingerprint scanner or iris scanner. Once the customer is verified, they can perform transactions such as cash withdrawals or deposits by entering the transaction amount and confirming it using their Aadhaar-linked mobile number.

APIs for Micro ATMs:

There are several APIs available for developers to integrate Micro ATM functionality into their applications. Here are some of the most popular ones:

1. NPCI Aadhaar Enabled Payment System (AEPS) API: The NPCI (National Payments Corporation of India) provides an API for developers to integrate AEPS functionality into their applications. This API allows developers to initiate transactions such as cash withdrawals, balance inquiries, and mini statements using a customer's Aadhaar number and biometric authentication.

MPOS

An MPOS (Mobile Point of Sale) is a handheld device that enables merchants to accept card payments using their smartphones or tablets. MPOS devices are especially useful for small businesses that cannot afford traditional card payment terminals or do not have access to electricity or internet connectivity.

MPOS devices work by connecting to a merchant's smartphone or tablet via Bluetooth or audio jack. The customer's card is swiped or inserted into the MPOS device, and the transaction details are encrypted and transmitted to the payment gateway for processing.

APIs for MPOS:

There are several APIs available for developers to integrate MPOS functionality into their applications. Here are some of the most popular ones:

1. Stripe API: Stripe is a leading payment gateway provider that offers an API for developers to integrate MPOS functionality into their applications. This API supports card payments and allows developers to customize the user interface and transaction flow.

In conclusion, Micro ATMs and MPOS are two important financial technologies that have made banking and payments more accessible to people in remote and underbanked areas. There are several APIs available for developers to integrate these technologies into their systems and offer financial services to a wider audience.