New Delhi, November 8: The Automated teller machines (ATMs) across the nation are set to be replaced in the next three to four months with more innovative and multi-function machines. As per details by officials of NCR Corporation, bank ATMs will be replaced to increase safety as the new ones are set to have face, biometrics recognition features.  NCR Corporation is a global leader in omnichannel solutions and has a 50% ATM market share in India. It has come out with innovations like Interactive Teller ATM and EMV contactless ATM from its research and development centre in Hyderabad. The existing ATMs across the nation were deployed 8 to 10 years ago. With the replacement of these old ATM machines in metro cities, the existing ones will be moved to tier II and tier III cities. Also Read - Maharashtra Man Held for Stealing ATM Cards of Bank Customers

Here’s what the new ATMs will have: Also Read - ATM Robbery Foiled in Vasai: This is What 45-year-old Woman Did to Help Cops Catch The Thief

  1. The multi-function ATMs will have innovative features like face recognition and biometrics.
  2. It will facilitate customers in transferring money and depositing cash and cheques.
  3. The machines will not run out of money as the cash deposited by customers will be dispensed.

Post demonetisation, the ATM market in the country has gone down. NCR is of the opinion that with the replacement of existing ATMs, the market would return to 9% annual growth rate as the progression to cashless economy will be slow, IANS reported. Also Read - In a first, Bihar’s Purnia Jail to Get ATM for Prisoners to Draw Cash

Paul Langenbahn, Executive Vice President, NCR Software was quoted by IANS saying that the R&D centre in Hyderabad would focus on the development of innovative technologies to assist customers across the industries NCR serves. Meanwhile, Eli Rosner, Chief Technology Officer, NCR Corporation said the centre will be developing and supporting innovative software and services that global institutions use to empower consumers through self-service applications. The NCR’s manufacturing facility in Chennai has manufactured 200,000 ATMs since 2004. The company exports 70 percent of the machines manufactured in Chennai facility.