PSU PRESS RELEASE
No ATM card-Cash a bearer cheque at an ATM soon
MUMBAI. ATM maker NCR Corp has set up an ATM machine that can give you cash against a bearer cheque. The ATM machine is currently installed at Gurgaon branch of IndusInd Bank on a pilot basis, according to a report in The Hindu Business Line.
Navroze Dastur, the India Managing Director of NCR Corp believes this is a new concept and a lot of customer education is required as many users are not aware of the technological advances.
On inserting a cheque into the machine, the image of the cheque is verified, and after authentication, cash is dispersed. The technology is part of NCR's ATM-based product 'Interactive Teller' that enables the teller to control the machine remotely.
The pilot project has already seen over 1,000 walk-ins during the past 20 days, said the report.
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