At present, Paytm plans to add 100,000 "Paytm ka ATMs" across the country.
Alibaba backed Paytm unveiled its ATM on Tuesday. Now, the Paytm customers will be able to open bank accounts, deposit cash and withdraw money through the offline distribution network.
The firm also shared its plans to invest Rs 3000 crore over the next three years to expand these offline-distribution networks. It will allow local stores to act as potential cash-in and cash-out points.
At present, Paytm plans to add 100,000 "Paytm ka ATMs" across the country. It launched its payments bank last month with zero charges on all online transactions. It also allowed its customers to have no minimum balance for holding an account.
In the first phase, Paytm has started with 3,000 "Paytm Ka ATM" points in select cities including Delhi-NCR, Lucknow, Kanpur, Allahabad, Varanasi and Aligarh.
"The Paytm Ka ATM banking outlets is our step towards ensuring every Indian has access to banking facilities. This will enable our customers to visit their trusted neighbourhood outlet to open their bank account, deposit and withdraw cash, in addition to getting their Aadhaar linked. We believe this hyper-local model of banking will play a crucial role in enabling hundreds of millions of under-served and un-served customers to gain access to quality banking services," said Renu Satti, managing director and chief executive officer, Paytm Payments Bank.
Last month, Finance Minister Arun Jaitley launched Paytm Payments Bank. At the launch he said that digital transaction is fast taking the place of cash being a predominant instrument for transactions with a series of government initiatives to formalise the economy.
Accounts holders of Paytm Payments Bank will get benefits like zero-fee account -- no minimum balance required -- free IMPS, NEFT, RTGS, UPI transactions and access to over 1 lakh Paytm ATM locations across India. Besides, the company has planned an investment of USD 500 million in KYC (Know Your Customer) operations. It is setting up KYC centres across India to complete the KYC process for customers and making them eligible for a Payments Bank account.
Paytm Payments Bank is the country's largest mobile- first, technology-led bank. By virtue of reaching every nook and corner of the country, we will be able to bring the large un-served and under-served population to the mainstream economy.
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 "Paytm ka ATM is here! Firm plans to invest Rs 3000 crore over next 3 years to expand offline distribution network")
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