Piyush Goyal showcases India's first UPI ATM: Here's how to make cardless cash withdrawals

Posted under: Digital Transformation
Date: 2023-09-08
Piyush Goyal showcases India's first UPI ATM: Here's how to make cardless cash withdrawals

The Unified Payments Interface (UPI), a technology facilitating swift mobile-based money transfers, has emerged as the fastest-growing payment method in India. At the Global Fintech Fest in Mumbai, a cutting-edge UPI ATM, described as 'India's first', was unveiled, revolutionizing cash withdrawals by eliminating the need for physical ATM cards. Internet users have lauded this development as a game-changer. Here are five steps for cash withdrawal from a UPI ATM: Select the "Cardless Cash" option. Choose the desired withdrawal amount. Scan the QR code using your UPI app. Enter your UPI PIN to authorize the transaction. Collect your cash. This innovation, engineered by the National Payments Corporation of India and powered by NCR Corporation, aims to modernize India's payment landscape, with plans to integrate it into apps like Google Pay, PhonePe, and Paytm.

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