Wondering how India’s first UPI ATM which was launched on Tuesday works? Well, it is quite simple. This service affords a handy method for patrons to withdraw money from any ATM that helps UPI-ATM performance, all with out the necessity for a debit or bank card. Of course, one factor you’ll want to carry is your cell to finish the money withdrawal course of.
Want to withdraw cash from UPI ATM? Know the method right here
1)The buyer has to pick out the choice ‘UPI cash withdrawal’ on the ATM.
2) The buyer shall be prompted to enter the withdrawal quantity.
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How to withdraw cash from UPI ATM (NPCI)
3) After coming into the quantity, a single-use dynamic QR code (signed) shall be displayed on the ATM display screen.
4)The buyer must scan the QR code utilizing any UPI APP* and authorize the transaction with a UPI PIN on the cell (UPI APP) to get money from the ATM.
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How to withdraw cash from UPI ATM (NPCI)
UPI-ATM: Key options
Interoperable.
Card-less Transaction.
Transaction restrict is as much as ₹10,000/- per transaction. It shall be a part of the prevailing UPI per day restrict and as per the bounds set by the Issuer Bank for UPI-ATM transactions.
Convenience i.e. no want to hold a card for ATM money withdrawal.
Can withdraw money from a number of accounts utilizing UPI APP
On Thursday, Union Minister Piyush Goyal posted a video on X, that confirmed Ravisutanjani, a FinTech influencer, demonstrating withdraw money from an ATM utilizing UPI.
The distinctive ATM has been developed by the National Payments Corporation of India and powered by NCR Corporation
Users can now make voice-enabled UPI funds
The NPCI on Wednesday launched a slew of recent fee choices on the favored funds platform UPI — Credit Line on UPI, UPI LITE X, and Tap & Pay, Hello! UPI and Conversational Bill Payments
UPI transactions crossed the ten billion mark in August
Recently, UPI achieved a outstanding milestone by crossing 10 billion transactions in a month.
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Updated: 07 Sep 2023, 01:57 PM IST
