India’s inaugural UPI ATM, a collaborative effort by Hitachi Payment Services and NPCI, marks a significant stride in the realm of digital payments. This White Label ATM introduces QR-based UPI cash withdrawals, providing a convenient alternative to traditional methods. Sumil Vikamsey, MD and CEO of Cash Business at Hitachi Payment Services, highlights the empowerment it brings to bank customers.
NPCI expresses delight in offering this customer-friendly enhancement to ATM transactions, seamlessly integrating the security and convenience of UPI. This innovation ensures swift access to cash even in remote Indian regions, eliminating the need for a physical card.
The UPI-ATM streamlines the cash withdrawal process, offering a secure experience. To utilize it, users need to select the withdrawal amount, scan the corresponding QR code, enter their UPI PIN for authorization, and finally, collect their cash. Unlike conventional cardless cash withdrawals, UPI-ATM relies on QR-based UPI cash withdrawals, accessible to UPI users with the application on their Android or iOS devices.
Hitachi Payment Services, a 100% subsidiary of Hitachi Ltd., has been at the forefront of India’s payment industry, providing a wide range of payment solutions.
