{"id":1273197,"date":"2023-09-10T07:06:45","date_gmt":"2023-09-10T01:36:45","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1273197"},"modified":"2023-09-10T07:07:22","modified_gmt":"2023-09-10T01:37:22","slug":"withdraw-cash-from-atm-without-any-debit-card-upi-atm-changes-everything-check-video","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/withdraw-cash-from-atm-without-any-debit-card-upi-atm-changes-everything-check-video\/","title":{"rendered":"Withdraw Cash From ATM Without Any Debit Card: UPI-ATM Changes Everything! (Check Video..)"},"content":{"rendered":"\n<p>Anand Mahindra shared a video of a unique ATM that works via UPI apps.<\/p>\n\n\n\n<p>This ATM was unveiled at the recently held Global Fintech Fest in Mumbai.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Untitled-design-52.png\" alt=\"Withdraw Cash From ATM Without Any Debit Card: UPI-ATM Changes Everything! (Check Video..)\" class=\"wp-image-1273267\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Untitled-design-52.png 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Untitled-design-52-300x140.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/09\/Untitled-design-52-768x357.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p><strong>Swift progress in digitisation<\/strong><\/p>\n\n\n\n<p>The Chairman of Mahindra Group wrote, &#8220;His UPI ATM was unveiled at the Global Fintech Fest 2023 in Mumbai on September 5. The speed at which India is digitising financial services &amp; making them consumer-centric as opposed to corporate-centric (Alarm bell for credit card companies?) is simply dazzling. (I just have to make SURE I don\u2019t misplace my cellphone!&#8221;.<\/p>\n\n\n\n<p>Praveena Rai, chief operating officer of NPCI, said UPI-ATMs will help re-imagine ATMs and the ATM experience, cost, location, and reach.<\/p>\n\n\n\n<p><strong>White Label ATM<\/strong><\/p>\n\n\n\n<p>Hitachi Payment Services introduced the country&#8217;s first-ever UPI-ATM as a White Label ATM (WLA) in association with the National Payments Corporation of India (NPCI).<\/p>\n\n\n\n<blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">This UPI ATM was apparently unveiled at the Global Fintech Fest 2023 in Mumbai on September 5. The speed at which India is digitising financial services &amp; making them consumer-centric as opposed to corporate-centric (Alarm bell for credit card companies?) is simply dazzling.\u2026 <a href=\"https:\/\/t.co\/krBXhbc9Qh\">pic.twitter.com\/krBXhbc9Qh<\/a><\/p>&mdash; anand mahindra (@anandmahindra) <a href=\"https:\/\/twitter.com\/anandmahindra\/status\/1699627936138334647?ref_src=twsrc%5Etfw\">September 7, 2023<\/a><\/blockquote> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p>The UPI-ATM is a white label ATM which <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/everything-you-need-to-know-about-the-newly-launched-upi-atm-11328181.html\">refers <\/a>to those that are owned and operated by non-bank entities.<\/p>\n\n\n\n<p>&#8220;Customers can use it there at the Global Fintech Fest 2023. However, the deployment will start in a few months,&#8221; Sumil Vikamsey, Managing Director &amp; CEO &#8211; Cash Business, Hitachi Payment Services said.<\/p>\n\n\n\n<p><strong>Basic features<\/strong><\/p>\n\n\n\n<p>The withdrawal limit is Rs 10,000 per transaction.<\/p>\n\n\n\n<p>This includes the <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/everything-you-need-to-know-about-the-newly-launched-upi-atm-11328181.html\">existing <\/a>daily UPI limit and as per the limit set by the issuer bank for UPI-ATM transactions.<\/p>\n\n\n\n<p>There is no need to carry a card for ATM cash withdrawals and one can take out cash from multiple accounts using the UPI app.<\/p>\n\n\n\n<p><strong>Advantages<\/strong><\/p>\n\n\n\n<p>These ATMs are more secure.<\/p>\n\n\n\n<p>Since there are no cards involved, there is no risk of &#8216;skimming&#8217; of cards by fraudsters.<\/p>\n\n\n\n<p>It will drive financial <a href=\"https:\/\/economictimes.indiatimes.com\/wealth\/save\/upi-atm-launched-forget-debit-card-you-can-withdraw-money-from-atm-using-upi-how-to-use-it\/articleshow\/103422495.cms?from=mdr\">inclusion <\/a>by facilitating easy access to banking services in areas where traditional banking infrastructure and card penetration is limited, said Hitachi Payment Services.<\/p>\n\n\n\n<p><strong>How the UPI-ATM is different from cardless cash withdrawals<\/strong><\/p>\n\n\n\n<p>The UPI-ATM operates through QR-based UPI cash withdrawals.<\/p>\n\n\n\n<p>A user can withdraw money <a href=\"https:\/\/www.livemint.com\/news\/india\/check-out-this-unique-atm-that-works-on-upi-tech-anand-mahindra-shares-video-11694060916415.html\">only <\/a>if he has a UPI app installed on either their Android or iOS smartphone to perform successful transactions.<\/p>\n\n\n\n<p>Whereas card-less cash withdrawals rely on mobile numbers and OTPs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to withdraw money from a UPI-ATM<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Step 1:<\/strong> Select the \u2018UPI cash withdrawal\u2019 option on the ATM and then select the desired amount.<\/li>\n\n\n\n<li><strong>Step 2<\/strong>: A single-use dynamic QR code will be displayed on the screen.<\/li>\n\n\n\n<li><strong>Step 3:<\/strong> Scan the QR code using the UPI app (Google Pay, PhonePe, PayTM, etc.)<\/li>\n\n\n\n<li><strong>Step 4:<\/strong> Enter your UPI PIN for the app.<\/li>\n\n\n\n<li><strong>Step 5:<\/strong> Bank will send a message regarding the transaction.<\/li>\n\n\n\n<li><strong>Step 6: <\/strong>Cash will be dispensed.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Anand Mahindra shared a video of a unique ATM that works via UPI apps. This ATM was unveiled at the recently held Global Fintech Fest in Mumbai. Swift progress in digitisation The Chairman of Mahindra Group wrote, &#8220;His UPI ATM was unveiled at the Global Fintech Fest 2023 in Mumbai on September 5. The speed [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1273267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[3386,3387],"class_list":["post-1273197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-upi-atm","tag-upi-cash"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Withdraw Cash From ATM Without Any Debit Card: UPI-ATM Changes Everything! 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