Invention or innovation in the banking sector has time and again proven beneficial for the customers, as well as for the financial institutions. One such breakthrough invention was the ATM (Automated Teller Machine). ATMs have simplified our life, as we now do not have to worry about the bank timings for cash withdrawal. With the emergence of ATMs, accessibility of cash withdrawal has been over exceeded upto 24×7. With just a mere swipe of your debit card in the ATM machine, you can easily receive/ withdraw money within seconds. ATMs have made the money withdrawal process so easier that now we cannot imagine a world without ATMs. With the increasing population and government’s endeavor for maximum financial inclusion opening of more ATM counters is the need of the hour. As per the reports of RBI, India is in need of more ATMs to support the financial needs of our ever increasing population. This need has resulted in tremendous growth in the ATM business industry.
You must have noticed that often we see ATMs installed in a complex, shop, petrol pump or a mall. We can now find them almost everywhere facilitating our cash requirements, as now we have something called as a Mobile ATM. Mobile ATM as the name suggests is a type of ATM which is on wheels. Many business owners and entrepreneurs find the ATM business industry attractive, as it provides them the required flexibility, convenience and profitability. ATM business opens an ATM in your commercial property either by renting out the commercial property to the bank or taking an ATM franchise, or as per the recent trends – owning a Mobile ATM. Mobile ATMs are rapidly becoming quite successful because of their convenience and availability for customers.
Let us now see how mobile ATMs are changing the course of banking industry:
Mobile ATM is a concept of ATM–on–wheels. These ATMs are available in areas that have a big footfall or have a good automobile traffic. Mobile ATMs are similar to the food trucks where the truck is parked at a place where it can get maximum customers. Mobile ATMs allow customers to simply drive at the ATM and access their account without even stepping out of their vehicles. The mobile ATMs allow customers to withdraw cash, deposit money and all the related activities that usually all other ATMs allow. The main reason for the success of Mobile ATMs is the flexibility and convenience they provide to its customers. Having said that there are many more benefits that the Mobile ATMs offers to its customers.
Marquee Benefits of Mobile ATM:
- Mobile ATMs are suitable for places and locations where stationery machines are not conducive. Locations like outdoor fairs, concerts or temporary events are ideal places where you can place a mobile ATM as at these places you will find high traffic and population density. You can place a mobile ATM at the entrance of such location where people can utilise the facility. Now although location convenience is a key factor but the chosen place also needs to be secure. For security reasons the mobile ATM can be attached to a firm stationery area, as this may provide extra security to the mobile ATM.
- It is generally found that the owners of the mobile ATM earn more as compared to the owners of stationery ATMs. This is because a mobile ATM unit can easily move from one heavy traffic area to other heavy traffic area. So mobile ATM owners have to just find out heavy footfall areas or events where they can park their mobile ATM and operate efficiently. Mobility of the mobile ATM is the biggest advantage to its owner for doing an immensely profitable business.
- Also attracting customers for mobile ATM is rather easy as the idea of mobile ATM is innovative and convenient enough to attract the customers. Mobile ATM is available to serve the customers at anytime and anywhere, subject to a suitable catchment area. Mobile ATM owners can collaborate with event planners to host their ATMs at public platforms, as it will not only help in serving the customers but also earn considerable business for the owners.
What are the challenges in establishing a Mobile ATM?
ATMs were primarily stationery structures so the countering the risk related to security and safety was an easy task. Also another important aspect is of infrastructure like the air conditioning unit or the electrical unit etc. that is needed for an ATM to run successfully. It can be easily installed for mobile ATMs whereas this is a challenge for a Mobile ATM as they need to be equipped with all state-of-the-art equipment required for successful working of an ATM. The infrastructure that is generally required includes: A 24×7 uninterrupted electrical power supply, internal air conditioning facility to keep the machine functional as these machine create a lot of heat. The Mobile ATM unit must be weather resistant i.e. the unit be made in such a manner that it can sustain and function uninterruptedly in any weather condition. Further a mobile ATM unit must be equipped with all the required safety features which will ensure the safety for the potential customers, as if safety of mobile ATM unit is not considered then it might not give the confidence to the customers to carry out any financial transaction. Customers feel safe to use a fully secure ATM.

Get FREE Credit Report from Multiple Credit Bureaus Check Now
Thus, mobile ATMs is a good way to bring about financial inclusion if all the probable challenges associated with it are duly taken care of.