For people living near Hebbal Housing and Industrial area, be it small business owners, workers, daily wagers or residents, a neighbourhood petrol pump is doing great service by providing access to banking at their convenience.
M/s Sri Varaprada Fuels, a Bharat Petroleum (BPCL) outlet located on Hebbal Ring Road, also works as a banking point of Fino Payments Bank. Equipped with Fino’s Micro ATM and Aadhaar enabled payment system (AePS) devices, the staff at the outlet transform into a human ATMs, helping people deposit, withdraw, transfer money and even open new accounts.
In addition to BPCL outlets, around 3000 neighbourhood small business owners such as kirana, mobile repair, dairy outlets are part of Fino’s banking network spread across South Karnataka.
“The advantage of the local shops and BPCL outlets is that they are close by and are open till late in the evening allowing customers transact at their convenience either using a debit card or through Aadhaar authentication. Importantly, customers can focus on their work or business, while merchants can earn on every transaction. Also, cash is always available at these outlets unlike at some ATMs,” said Praveen Kumar, State Head, Fino Payments Bank
Along with banking, at these neighbourhood outlets and BPCL points, customers can also purchase insurance (health, life, Covid and motor) pay utility bills, do mobile and DTH recharge. Beneficiaries of government DBT schemes found the human ATMs convenient to withdraw cash.