No Card, No Tension; Withdraw From UPI-ATM Now!

New Delhi: India’s first UPI-ATM, launched on Tuesday, is a White Label ATM (WLA) presented by Hitachi Payment Services in collaboration with the National Payments Corporation of India (NPCI). This groundbreaking initiative aims to provide customers with a seamless cash withdrawal experience, eliminating the need for physical ATM cards. Through this system, individuals can now enjoy the convenience of QR-based cashless withdrawals, making banking transactions effortless and hassle- free.

‘We are delighted to empower customers with this innovative and customer-friendly enhancement for ATM transactions. 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. This innovative concept is designed to provide quick access to cash even in remote areas of India without the need for a physical card,’ said National Payments Corporation of India (NPCI) in a report.

All you need to know about UPI-ATM service

  • The UPI-ATM service, also referred to as Interoperable Cardless Cash Withdrawal (ICCW), provides customers of participating banks using UPI with a convenient method to withdraw cash from any ATM that supports UPI-ATM functionality, eliminating the need for a physical card.
  • When a customer opts for the ‘UPI cash withdrawal’ feature at the ATM, they will be prompted to input their desired withdrawal amount. Upon entering the amount, a distinctive and secure dynamic QR code will emerge on the ATM screen.
  • To complete the transaction and withdraw cash from the ATM, customers simply need to scan the QR code using any UPI app and authorize the transaction with their UPI PIN on their mobile device.
  • The current method of withdrawing cash without using a physical card relies on mobile numbers and One-Time Passwords (OTPs), whereas UPI-ATM operates by utilizing QR codes for UPI-based cash withdrawals.
  • UPI-ATM is accessible to individuals who have installed a UPI application on their Android or iOS smartphones and is designed to facilitate secure and convenient transactions.
  • To initiate transactions, users must have a UPI application installed on their Android or iOS mobile devices.

Key Features of UPI-ATM

  • Compatible with various systems, making it compatible across multiple platforms.
  • Enables transactions without the need for a physical card, providing hassle-free payment options.
  • Transaction limit of up to ₹10,000 per transaction, in adherence to the existing UPI daily limits and issuer bank’s UPI-ATM transaction limits.
  • Offers convenient cash withdrawals by eliminating the necessity to carry an ATM card.
  • Facilitates cash withdrawals from multiple accounts through the UPI app.

Easy withdrawl of cash from UPI-ATM

  1. Select the desired amount to withdraw.
  2. The UPI QR code associated with the selected amount will be displayed.
  3. Use your UPI app to scan the QR code.
  4. Confirm the transaction by entering your UPI PIN.

Benefits of UPI-ATM

  • The current method of withdrawing cash without using a physical card relies on mobile numbers and One-Time Passwords (OTPs), whereas UPI-ATM operates by utilizing QR codes for UPI-based cash withdrawals.
  • UPI-ATM is accessible to individuals who have installed a UPI application on their Android or iOS smartphones and is designed to facilitate secure and convenient transactions.
  • To initiate transactions, users must have a UPI application installed on their Android or iOS mobile devices.

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