The idea behind the kiosk banking is that it should be supported by the banks in private, public and cooperative sectors through the use of shops. These acts as a touchpoint between a bank and the customer where the banking services such as deposits, withdrawals, remittances apart from the micro-credit, insurance, and overdraft services could be delivered.
Benefits of Kiosk Banking Kiosk banking solution is advantageous to both, the owner of a Customer Service Point (CSP) as well as the customer.
Following are some of the benefits that kiosk banking providers to the CSP owners :
- Self-Employment Opportunity – Kiosk banking makes small retailers and other CSP owners independent by offering them an opportunity for growth.
- Walk-in Customers-Being located in busy streets or densely populated remote areas, the kiosk banking service provider gets substantial walk-in customers.
- Performance-Based Incentives: The CSPs earn high incentives provided that they perform equally well.
- Fair Remuneration: The remuneration received by the CSPs is good enough.
To Customers :
- Easy Accessibility-Kiosk banking helps customers with easy accessibility and approachability to the essential banking services without even going to the bank where they hold an account.
- Nearby Location: CSP or kiosk machines are located nearby to the customerâ€™s residence to make sure it is convenient for the customer to reach there.
- No need to stand in Queues: Since it is located in a shop or a small booth, there are no queues.
- Zero Balance Account: The customer need not maintain any minimum balance in a no-frills account.
- Extended Banking Hours: The banking hours offered by a CSP or a kiosk machine extends to the timing of the shop or retail outlet where it is located.
- Minimal Charges: The charges applied on transactions is almost nil.