UPI ATM Cash Withdrawal: Hitachi Payment Services, a payments and commerce solutions provider, on Tuesday launched India’s first-ever UPI-ATM as a white label ATM (WLA), in association with National Payments Corporation of India (NPCI), offering secure cardless cash withdrawals. The UPI-only white label ATM enhances customer security by eliminating the need for physical cards.
“Leveraging advanced and innovative technology, the Hitachi Money Spot UPI ATM delivers a seamless digital experience for customers. Hitachi Payment Services has been at the forefront of bringing innovative offerings in the payments domain and presently is the only White Label ATM operator to offer Cash Deposit facility. This service can be accessed at more than 3,000 ATM locations,” the company said in a statement.
Sumil Vikamsey, managing director & chief executive officer (cash business) of Hitachi Payment Services, said, “We are happy to launch an industry-first offering in the White Label ATM space with Hitachi Money Spot UPI ATM. This offering empowers any bank customer to experience the convenience of QR-based UPI cash withdrawals.”
He added that UPI has been the fastest-growing payment mode in the country and accounts for more than 50 per cent of digital transaction volumes.
The National Payments Corporation of India (NPCI) said, “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.”
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