UPI ATM Launched Withdraw Money From ATM Using UPI Without Debit Card

UPI Using ATM: India’s first UPI ATM has been launched. Hitachi Payment Services, a subsidiary of Hitachi Limited, has launched UPI ATM. With the help of this facility, now without debit or ATM card, you will be able to withdraw money from ATM through UPI.

To provide this facility to the people of India, it has been introduced as White Label ATM (WLA) of UPI ATM in collaboration with National Payments Corporation of India (NPCI). This ATM allows users to make payments through the UPI app from multiple accounts.

Will be helpful in preventing fraud

It will be operated by non-banking institutions. This will not only give a new experience, but will also increase the banking infrastructure and withdrawal limit. In addition, UPI ATMs are seen as a positive measure towards preventing financial frauds such as card skimming.

How will UPI ATM work?

A video demo has been shared by Ravisutanjani Kumar at Mumbai’s Global Fintech Fest, in which UPI ATM can be seen as a touch panel. Tapping on UPI Cardless Cash on the right side opens another window with a button for cash amount option like Rs.100, Rs.500, Rs.1000, Rs.2000, Rs.5000 and other amounts. After selecting it, the QR code appears on the screen.

Now you have to scan using any UPI app. After the code is scanned, users will be asked to select their desired bank account and click on confirm. Now you have to confirm to withdraw cash. After this the UPI PIN has to be entered. After doing this a UPI message will be sent that the transaction is going to happen. After this the ATM will withdraw your money.