UPI ATM Launched: All You Need To Know About Cardless Cash Transaction

11 September, 2023 | Anupam Shrivastava

UPI ATM G20 Summit India 2023

According to Bank of Baroda's statement, they are the first public sector bank in the country to launch the UPI ATM service in coordination with the National Payments Corporation of India (NPCI).

Bank of Baroda (BoB), a public sector bank in India, has introduced a special convenience for its customers. BoB has launched UPI ATM (Unified Payments Interface Automated Teller Machine) services at nearly 6,000 ATMs across the country. The bank made this announcement on Friday. Customers can now withdraw cash from these ATMs by scanning the UPI QR code using their mobile phones.

According to a statement released by the Bank of Baroda, they are the first public sector bank in the country to launch the UPI ATM service in coordination with the National Payments Corporation of India (NPCI).

Service Launched at 6,000 ATMs

According to Bank of Baroda’s statement, they are the first public sector bank in the country to launch the UPI ATM service in coordination with the National Payments Corporation of India (NPCI). The bank stated that their customers, as well as those of other banks, can now withdraw cash from 6,000 ATMs across the network using mobile UPI, without the need for a debit card.

The statement also highlighted that the Interoperable Cardless Cash Withdrawal (ICCW) technology behind the UPI ATM enables cardless cash withdrawals based on UPI QR codes, eliminating the need for a physical card. Another advantage of the UPI ATM service is that customers can withdraw cash from multiple linked accounts through UPI.

How to Use UPI ATM?

To use Bank of Baroda’s UPI ATM service, customers need to select the “UPI Cardless Cash” option displayed on the ATM screen. After choosing the cash withdrawal option, they will receive a QR code, which they can scan with their mobile UPI app. Customers then select the desired bank account, complete the transaction with their PIN, and the cash will be dispensed.

This innovative service enhances the convenience of banking transactions for customers, making it easier to access cash without the need for a physical debit card.

‘Money Spot’ UPI ATMs have been made by Hitachi

The special ATMs meant for UPI have been made by Hitachi Payment Services and are called Money Spot which enables customers to make cash withdrawals without the need for a physical card by using a United Payments Interface (UPI) app. This innovative concept aims to provide access to cash in remote areas of India while mitigating the risks associated with card skimming due to its cardless nature.

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