UPI ATM: Now money will come out from ATM even without card, Anand Mahindra became a fan, know how the machine will work
[ad_1]
UPI ATM: Digital transactions are increasing very fast in India. People prefer to do financial transactions using mobile wallets or UPI instead of cash. India is working on different platforms to promote digital transactions. Along with this, people are also being made aware. Now technology has also caught pace in this matter. Soon, such an ATM machine is going to come from which money can be withdrawn without ATM card. The video of this progress of new India has been shared by Anand Mahindra, Chairman of Mahindra & Mahindra on his social media handle.
What Card companies will increase tension
Anand Mahindra wrote on his social media handle that this UPI ATM was unveiled on 5 September at the Global Fintech Fest 2023 in Mumbai. The pace 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 a 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 doubt about the risk of misuse of ATM.
Hitachi Payment Services launched this ATM
This ATM has been launched by Hitachi Payment Services in association with National Payments Corporation of India (NPCI). In the Global Fintech Fest 2023, several products have been launched by NPCI to promote digital transactions. One of these products is Hello UPI. Through this, any person can make his payment by speaking. Through this app, you can make UPI payments with your voice in Hindi and English through phone calls and IoT (Internet of Things) devices. Market experts say that Hello UPI can be a big game changer in making UPI more popular. It is being told that soon Hello UPI will be made available in other regional languages of the country as well.
How UPI ATM works
A demo video related to the use of UPI ATM has been tweeted by Anand Mahindra. In this, it is shown that on the screen of the ATM machine, choose the option of UPI. 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 the UPI app and the bank account. Thereafter, confirm the same by entering the UPI PIN as in a normal UPI transaction. To take advantage of this service, you must have a smartphone and UPI enabled app.
What is UPI?
Unified Payments Interface (UPI) is an Indian financial system designed to simplify personal and business transactions. It handles financial transactions between various banks and financial institutions in a fast, secure and permanent manner. UPI is an important part of digital financial services in India and is used to make transactions between people secure and simple. UPI enables users to send money and conduct transactions from their personal and business accounts to the accounts of other users. Provides various user benefits to make the app and design user friendly. Sending and receiving money through UPI is very quick and easy. It supports multiple Indian languages, making personal and business transactions very easy.
[ad_2]
Source link
