India gets its first UPI ATM: How to withdraw cash; benefits over ATMs

The NPCI has said the UPI ATM will provide quick access to cash even in remote areas of India without the need for a physical card

Update: 2023-09-06 11:33 GMT
To withdraw cash from a UPI ATM, all you need is a smart phone and a UPI app installed on it | Pic: Twitter

The Unified Payments Interface (UPI) has revolutionised digital payments in India and even beyond borders. Now, you can even withdraw money from ATMs using UPI.

Hitachi Payment Services, a subsidiary of Japan’s Hitachi Ltd, on Tuesday (September 5) launched India’s first UPI ATM in Mumbai, in association with the National Payments Corporation of India (NPCI). It is a White Label ATM (WLA), which is the term accorded to ATMs set up, owned, and operated by non-banks.

The NPCI has said the UPI ATM will “provide quick access to cash even in remote areas of India without the need for a physical card”. So, let’s see how it works.

How to withdraw cash from a UPI ATM

- You will see a touch panel saying “Welcome to UPI ATM” and “UPI Cardless Cash” below it. Tap on “UPI Cardless Cash”

- It will take you to another window with Rs 100, Rs 500, Rs 1000, Rs 2000, and Rs 5000 as options for quick cash withdrawal and a button for other amounts.

- Once you select an amount, the screen will display a QR code.

- Scan the code using any UPI app (BHIM, GPAY, etc.)

- Next, you will be prompted to select a bank account.

- Once you click on “Confirm”, the screen will show “Confirm to withdraw cash” and you have to click on “Proceed”.

- Next, enter your UPI PIN.

- The transaction will be cleared and you can collect your cash.

How is it different from banks’ card-less cash withdrawals?

The card-less cash withdrawal facility offered by some banks relies on mobile numbers and OTPs. However, the UPI-ATM operates through QR codes.

All you need is a smart phone and a UPI app installed on it. It will work on both Android or iOS devices.

The UPI ATM is reportedly built on the Android operating system.

Benefits of UPI ATM

- You do not need to carry a debit or credit card.

- You can choose from multiple accounts while withdrawing cash using the UPI app.

- It will eliminate the risk of card skimming — a method fraudsters use to steal your card information, such as PIN and card number, with the help of devices they install at ATMs or payment counters.

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