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Most banks offer deposit services at branches, and withdrawals can happen at off-branch locations. With a way to upgrade ATMs to CRMs, banks eliminate the need to replace ATMs. These machines will be UPI-enabled for cash deposit and withdrawal.
UPI-ATMs offer secure cardless cash withdrawals, a service similar to what is provided by some banks.
A UPI-ATM allows you to withdraw cash from your bank accounts using the United Payments Interface (UPI) applications. It offers you the same convenience of cardless cash withdrawal. The UPI-ATM is simple to use, secure, and effortless, says Sumil Vikamsey, Managing Director & CEO - Cash Business, Hitachi Payment Services. Know how to withdraw money from UPI-ATM.
India Business News: UPI-ATM functions by permitting cash withdrawals from bank accounts through the Unified Payments Interface (UPI) applications.
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, says NPCI