In a groundbreaking move, Hitachi Payment Services, in collaboration with the National Payments Corporation of India (NPCI), has introduced India’s first-ever UPI ATM. This innovative white-label ATM (WLA) has garnered widespread attention, especially after a video went viral showcasing a cardless cash withdrawal through the UPI-ATM. This cutting-edge technology offers secure and convenient cash withdrawals without the need for physical cards. Let’s delve into the details of this revolutionary UPI-ATM and how it works.
Here’s a step-by-step guide on how to use the UPI-ATM for cardless cash withdrawals:
| Step | Action |
|---|---|
| 1 | On the UPI-ATM screen, click on ‘UPI Cardless Cash.’ |
| 2 | Choose from several fast cash options displayed, including 100, 500, 1,000, 2,000, and 5,000 as per your need. |
| 3 | A QR code will appear on the screen. Open your UPI app, such as GPay, PhonePe, or any other UPI app, and scan the code. Approve the payment. |
| 4 | Click on ‘Proceed’ when ‘Confirm To Withdraw Cash’ is displayed. |
| 5 | Enter your UPI PIN, and the cash will be dispensed from the UPI-ATM or WLA. |
“The UPI ATM will mark a significant milestone in banking services by seamlessly integrating the convenience and security of UPI into traditional ATMs,” says the National Payments Corporation of India (NPCI).
While this remarkable facility is not yet available to the general public, it is set to be rolled out soon. The UPI has emerged as the fastest-growing payment mode in the country, constituting more than 50% of digital transaction volumes. The NPCI’s launch of the ‘UPI ATM’ represents a remarkable fusion of UPI’s convenience and security with the traditional ATM experience. This innovative concept is poised to provide swift access to cash, even in remote areas of India, eliminating the need for physical cards.