India’s first-ever UPI ATM has been introduced by Hitachi Payment Services recently, in association with the National Payments Corporation of India (NPCI). The white label ATM (WLA), a video of which went viral in which a person was making a cardless cash withdrawal through UPI-ATM, offers secure cardless cash withdrawals and eliminates the need for physical cards. Here’s how it works:
UPI-ATM: A Step-By-Step Guide
Step 1: On the screen of the UPI-ATM, click on ‘UPI Cardless Cash’
Step 2: Several fastcash options will be shown — 100, 500, 1,000, 2,000, and 5,000. Choose the option as per your need.
Step 3: A QR code will be displayed. Now, open your UPI app like GPay, PhonePe or any other UPI app and scan the code and approve the payment.
Step 4: Now, ‘Confirm To Withdraw Cash’ will be displayed. Click on ‘Proceed’.
Step 5: Enter your UPI PIN.
Now, the cash will be dispensed from the UPI-ATM or WLA. Though the facility is currently not available for the general public, it will be rolled out soon.
UPI has been the fastest-growing payment mode in the country and accounts for more than 50 per cent of digital transaction volumes.
The National Payments Corporation of India (NPCI) has said the launch of the ‘UPI ATM’ will mark a significant milestone in banking services by seamlessly integrating the convenience and security of UPI into traditional ATMs. This innovative concept is designed to provide quick access to cash even in remote areas of India without the need for a physical card.
