Hitachi Payment Services has introduced UPI-ATM, a White Label ATM (WLA) in collaboration with the National Payments Corporation of India (NPCI). This ATM allows users to withdraw cash without the need for traditional debit or credit cards.
Any individual with a registered UPI app, whether you’re an Android or iPhone user, is eligible for UPI ATM transactions. Payment Service Providers (PSPs) equipped with Interoperable Cardless Cash Withdrawal (ICCW) certification, along with onboarded issuer banks, will have access to this functionality. Deployment of UPI-ATMs is expected to roll out in the coming months, promising enhanced security and convenience for users.
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Vikamsey has also provided a step-by-step guide to assist users in utilising the UPI-ATM. Here is how you can do it:
Follow the below instructions:
Select the amount
Approach the UPI-ATM and start by selecting the amount you wish to withdraw from your bank account.
QR code generation
After selecting the desired amount, a unique QR code corresponding to that amount will appear on the ATM screen.
Scan the QR code
- Open your UPI app on your mobile device. Ensure you have the latest version of the app installed and that it is linked to your bank account.
- Use the UPI app to scan the QR code displayed on the ATM screen.
UPI PIN authorisation
Once you’ve successfully scanned the QR code, your UPI app will prompt you to input your UPI PIN to authorise the transaction. This step is crucial for security purposes.
Cash dispensation
After inputting your UPI PIN and authorizing the transaction, the UPI-ATM will dispense the requested amount of cash. Be ready to collect your cash promptly.
Conclusion
The UPI-ATM offers a modern and secure way to withdraw cash without the need for physical cards, making banking more convenient and secure for users. As this innovative technology continues to expand, it is set to revolutionize the way we interact with ATMs and access our funds.
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