Answer:
ATM's are gaining popularity because it is safer faster and better than paying cash, people can't go about carrying huge amounts of money with them so with the use of ATM's it is faster and smarter than any other form of payment.
The Automated Teller Machine or an ATM is an electronic banking system where the basic day to day transactions can be done without the physical presence of a bank official. It is the most reliable source for any common man in present day. The availability of it during all the day and night added a significant flexibility to the consumers.
In today's scenario people are able to do multiple transactions including cash deposits, cash withdraws, balance quires and applying for a debit card. As the Economic Times reports few automated teller machines also give access to consumers for paying income tax and applying for loans.
Automated Teller Machines are computerized devices set on a public platform with telecommunication control system which helps in a easy transactions.
Transactions are proceeding or dealings of money in buying and selling something, which includes circulation of money trough bank accounts.
Consumers are people who purchases goods and services for personal use.
Economic Times is an business related daily newsletter. it covers the latest news and insights on it.
Income Tax is a direct tax that is levied upon the people's income.
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