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Friday, December 11, 2009

Income Tax@ATM : The New Gateway for Personalised Services

Money Money Money Is Never Funny In a Rich Man's Coat

One of the most sought out venues at the beginning of every month is our dear Old ATM.While
today ATMs can serve Money, extend ullity like paying bills, checking balance, request for Cheque books etc they can do much more in the future. The most interesting thing about the ATM is the User friendliness and this I guess can extend to lot more personalised services for any typical End user.

Imagine going to the ATM and booking an Airticket, printing the E-Ticket,Boarding passes...seems useful as most of us dont have a printer at home and often
would need to find one on the way to the Airport. The Payment again in this case is well secured
as the transaction is directly accounted from the Users Savings Account and therefore this new channel can create new revenue streams for the Banks.

Every year paying my Income Tax is some kind of a planning/execution project as I would have sit through the details, negotiate the process, filling up forms, and then submission followed by the settement receipts. I strongly feel that ATMs are just one step away from capturing this
one service that every citizen would need atleast once a Year. Now Imagine the volume and the
commission thereby that a Bank can charge creating yet another revenue channel at the cost of
same Interface used by typical ATMs.

An Alert to my mobile can serve as an intelligent reminder and I would never have to fill in
paper forms..Just walk into the ATM counter click click and click and I would be printed the
receipt with settlements being directly processed with my Savings account. Less Paper, the
service can contribute to the growing Green Revolution by reducing the number of Paper forms

In the Rural market this can serve as a great gateway to the digital world for any Rural citizen
to accomplish the entire of process in the local language.
Now this is what we can deem as serving the bottom of the Pyramid with innovative nice
Personalised Services

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