India's First UPI-ATM Revolutionizes Cash Withdrawals

In a groundbreaking development, Hitachi Payment Services has introduced India’s very first UPI-ATM in collaboration with the National Payments Corporation of India (NPCI). This innovative white label ATM (WLA) has taken the internet by storm with a viral video demonstrating cardless cash withdrawals using UPI. Say goodbye to physical cards – let’s delve into how this new-age UPI-ATM works!

Step 1: Accessing the UPI-ATMIndia's First UPI-ATM Revolutionizes Cash Withdrawals IN 2023

Imagine standing in front of the UPI-ATM screen. You’ll notice an option that says ‘UPI Cardless Cash.’ Click on that to kickstart your cardless cash adventure.

Step 2: Choosing Your Cash Amount

Need cash? No worries! The UPI-ATM offers different fastcash options like 100, 500, 1,000, 2,000, and 5,000 rupees. Simply select the amount you require.

Step 3: The QR Code Magic

Now, a QR code will pop up on the screen. Take out your UPI app, whether it’s GPay, PhonePe, or any other UPI app, and scan the code. Don’t forget to give it your approval.

Step 4: Confirming Your Cash Withdrawal

After scanning, you’ll see a message that says ‘Confirm To Withdraw Cash.’ Click on ‘Proceed’ to move forward.

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Step 5: Entering Your UPI PIN

Almost there! You’ll be asked to enter your UPI PIN for added security.

And voila! The UPI-ATM or WLA will dispense your cash. Exciting news is that although this feature isn’t available to everyone just yet, it’ll be rolled out to the public soon.

Why It Matters

UPI has become India’s fastest-growing payment method, making up more than 50% of digital transactions. The NPCI highlights that the introduction of the ‘UPI ATM’ is a game-changer, seamlessly blending the convenience and security of UPI with traditional ATMs. This ingenious concept ensures that even in remote corners of India, you can access cash without needing a physical card.

This innovation promises to bring banking services to the next level, making cash accessible and secure for all, no matter where you are in the country. Stay tuned for more updates on this exciting development!

India's First UPI-ATM Revolutionizes Cash Withdrawals

FAQ: India’s First UPI ATM – Your Ultimate Guide

1. What is the UPI-ATM introduced by Hitachi Payment Services?

  • The UPI-ATM is a revolutionary banking service that enables cardless cash withdrawals using UPI (Unified Payments Interface) technology.

2. How does the UPI-ATM work in simple terms?

  • You choose your cash amount, scan a QR code displayed on the UPI-ATM screen using your UPI app, confirm the withdrawal, enter your UPI PIN, and the ATM dispenses cash – no physical cards needed.

3. What cash denominations can I withdraw using the UPI-ATM?

  • You can withdraw 100, 500, 1,000, 2,000, or 5,000 rupees, depending on your needs.

4. Which UPI apps can I use with the UPI-ATM?India's First UPI-ATM Revolutionizes Cash Withdrawals IN 2023

  • You can use popular UPI apps like GPay, PhonePe, or any other UPI app to access this service.

5. Is the UPI-ATM available to the general public right now?bob-India's First UPI-ATM Revolutionizes Cash Withdrawals IN 2023

  • Currently, it’s not available to everyone, but it will soon be rolled out for public use.

6. Why is the introduction of the ‘UPI ATM’ considered significant?

  • The ‘UPI ATM’ integrates the convenience and security of UPI into traditional ATMs, making it easier for people, even in remote areas, to access cash without physical cards.

7. What percentage of digital transactions does UPI account for in India?

  • UPI accounts for more than 50% of digital transaction volumes in India.

8. Who introduced the UPI-ATM, and in collaboration with whom?

  • Hitachi Payment Services introduced the UPI-ATM in association with the National Payments Corporation of India (NPCI).

9. What’s the main benefit of using the UPI-ATM for cash withdrawals?

  • The primary advantage is that it eliminates the need for physical cards, making cash access more convenient and secure.

10. Where can I stay updated on further developments regarding the UPI-ATM rollout? – You can stay tuned to news channels and official announcements from Hitachi Payment Services and NPCI for the latest updates on the UPI-ATM’s availability to the public.

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