Hitachi launches India’s first UPI-ATM How it works
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New Delhi: You no longer need a debit card to withdraw money from an ATM. The country’s first white level UPI-ATM has been launched. It has been launched by Hitachi Payment Services in association with National Payments Corporation of India (NPCI). Through this, customers can withdraw cash through UPI without debit or credit card. Some time back, RBI had issued a circular informing about the facility of cash withdrawal through UPI. It was said in the circular that all banks, ATM networks, ATM operators should provide inter-operable cardless cash withdrawal facility at their ATMs.
In such a situation, Hitachi launched the UPI-ATM at the Global Fintech Fest and presented a way to withdraw cash. Sumil Vikamse, MD & CEO, Hitachi said at the launch that the company is launching India’s first UPI-ATM which will be a type of white label ATM. ATM machines that are owned, maintained and operated by a non-banking service provider are called white label ATMs.how does it work
In such a situation, Hitachi launched the UPI-ATM at the Global Fintech Fest and presented a way to withdraw cash. Sumil Vikamse, MD & CEO, Hitachi said at the launch that the company is launching India’s first UPI-ATM which will be a type of white label ATM. ATM machines that are owned, maintained and operated by a non-banking service provider are called white label ATMs.
how does it work
Select the amount at the ATM to withdraw cash from it. The UPI QR code associated with the selected amount will be displayed. Use your UPI app to scan it. Enter your UPI PIN to confirm the transaction. Your cash will come out. You can do this if you have any UPI enabled app on your smartphone.
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