The first UPI ATM in India to operate without a card was introduced by Hitachi Payment Services, a division of the well-known Japanese corporation Hitachi. It worked with NPCI to complete this task. This ATM is located at several locations across the nation. The fact that you don’t have to put your card in it is crucial since it lowers the possibility of money theft. All in all, this is a novel and simple method of cash withdrawal.
NPCI has given this invention high marks.
According to NPCI, this invention offers a simple, rapid method of taking out cash without a card. This will be particularly helpful in isolated places where many people lack bank cards.
UPI ATM characteristics include
The days of carrying around credit or debit cards to get cash out of ATMs are past. Using your phone directly for transactions will be simple. Compatible with all banks. All banks are intended to function with the UPI ATM system. This implies that you can use any of your preferred UPI apps to withdraw money from any bank’s ATM. The convenience of the user is increased by this flexibility. The maximum amount you can withdraw from a ATM is ₹10,000 at a time. In other words, you can take out as much or as little as you need.
How can I take money out of a UPI ATM?
- Locate a nearby UPI ATM.
- Decide how much you wish to take out. With this, you can effortlessly withdraw any amount you want.
- A QR code will show up on the ATM screen once you’ve chosen the amount. The only way to withdraw money from UPI is to scan this code.
- Scan the QR code displayed on the ATM screen using any UPI app that is open on your phone. This will establish a link between the ATM and your phone.
- To finish the transaction, enter your PIN on your phone.
- The ATM will finish the transaction and provide you with the when you input the correct UPI PIN.
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