Bank of Baroda launched 6 thousand UPI ATMs in the country, know how to withdraw money without card
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Bank Of Baroda For the first time in the country, it has started the facility of withdrawing money from ATM without card for its customers. In the first phase, this system has been started in six thousand ATMs across the country. Customer can register his/her UPI (UPIYou can avail this facility by using . The new UPI ATM has been launched by Hitachi Payment Services and National Payments Corporation of India (NPCI).NPCI) has been launched in collaboration with. Many products have been launched by NPCI at the Global Fintech Fest 2023 to promote digital transactions. After the launch of this service, customers will no longer need to carry their ATM card with them.
First bank to launch Yipi ATM
According to the statement issued by BOB, it is the first public sector bank in the country to launch UPI ATM operated by NCR Corporation in coordination with National Payments Corporation of India (NPCI). The bank said that customers of its and other banks can withdraw cash from Bank of Baroda UPI ATMs without using their debit cards through the UPI-enabled mobile app. According to the statement, interoperable cardless cash withdrawal (ICCW) Through technology, UPI ATM enables QR-based seamless cash withdrawal, which does not require a card to withdraw cash. A major advantage of UPI ATM facility is that customers can withdraw cash from various accounts linked to UPI.
Who can use UPI ATM?
There is no restriction on the customer having any special qualification to use Bank of Baroda ATM. For this only the customer should have a smart phone. In this he should have any UPI supporting app. Customers of any bank can operate it from Bank of Baroda ATM. Customers can withdraw cash from Bank of Baroda UPI ATM without using debit card.
How does UPI ATM work?
A short video related to the use of UPI ATM has been tweeted by Anand Mahindra. In this, it is shown to select the UPI option on the screen of the ATM machine. After this, take out your mobile and scan the QR code with your mobile. As soon as you scan the QR code on the mobile, you will be asked about the option of UPI app and bank account. After this, like a normal UPI transaction, confirm it by entering the UPI PIN. To avail this service, you must have a smartphone and UPI enabled app.
Anand Mahindra had shared the video
The video of this progress of New India was shared by Mahindra & Mahindra Chairman Anand Mahindra on his social media handle. Anand Mahindra wrote on its social media handle that this UPI ATM was unveiled on September 5 at the Global Fintech Fest 2023 in Mumbai. The speed at which India is digitizing financial services and making them consumer-centric rather than corporate-centric. Is this an alarm bell for credit card companies? However, he also expressed concern about its misuse. He wrote that I just have to make sure that I do not keep my cellphone in the wrong place. Actually, this ATM can be used by scanning it from the phone. Due to this, people are expressing doubts about the risk of misuse of ATM.
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