India's first UPI ATM Launched: Users Now Can Withdraw Money Without Using Debit Card

 

India's first UPI-ATM was launched on September 5, 2023, by Hitachi Payment Services in association with the National Payments Corporation of India (NPCI). The UPI-ATM allows users to withdraw cash without using a debit or credit card.

 

How Does the UPI ATM Work?

 

The UPI ATM operates on the principle of cardless cash withdrawal, making it an extremely convenient and secure option for users.

 

To withdraw cash from a UPI-ATM, users need to have a UPI-enabled app on their smartphone. They can then follow these steps

* Select the "Withdraw Cash" option on the UPI app.
* Enter the UPI ID or QR code of the bank account from which they want to withdraw cash.
* Enter the amount of cash they want to withdraw.
* Generate a UPI PIN and enter it on the ATM machine.
* Collect the cash.

The UPI-ATM is a secure way to withdraw cash as it does not require users to share their debit or credit card details with the ATM machine. The UPI PIN is a one-time password that is generated on the user's smartphone and is valid for only one transaction.

The UPI-ATM is a convenient way to withdraw cash as it is available 24x7. Users can withdraw cash from a UPI-ATM even if their debit or credit card is lost or stolen.

The UPI-ATM is a step towards making cashless transactions more convenient and secure in India. It is expected that more UPI-ATMs will be rolled out in the coming months.

Here are some of the benefits of using a UPI-ATM:

* No need to carry a debit or credit card.
* Secure as it does not require sharing card details with the ATM machine.
* Convenient as it is available 24x7.

If you are looking for a secure and convenient way to withdraw cash, then you can use a UPI-ATM.