You can now withdraw money without using an ATM card

UPI Using ATM: India's first UPI ATM has been launched. Hitachi Payment Services, a subsidiary of Hitachi Limited, has launched UPI ATM. With the help of UPI ATM, you can withdraw money without a card. The first UPI ATM cash withdrawal machine has been showcased at the Global FinTech Fest. UPI ATM photos and videos have gone viral on social media. BJP leaders have also posted videos of UPI ATMs.

UPI ATMs are claimed to save consumers from debit card fraud. This step has been taken in collaboration with National Payments Corporation of India (NPCI). UPI ATMs are introduced as White Label ATMs (WLA). ATM users are being given the facility to withdraw money from different accounts through UPI.

No card is required to use this ATM. Cash can be withdrawn by scanning the QR code. Union Minister Piyush Goyal has shared a video regarding this.

Help to prevent fraud -

UPI ATM can be used through QR code. No credit or debit card is required for this ATM. Apart from that UPI ATM also reduces the risk of fraud. Because there is no need to enter any card number or pin number while using UPI ATM. UPI ATMs are seen as a positive measure to prevent financial fraud like card skimming. UPI ATM is currently being discussed heavily.

How UPI ATM will work -

Demo video of UPI ATM has been shared at Mumbai Global Fintech Fest. The UPI ATM appears to have a touch panel. Clicking on UPI Cardless Cash option opens another window. It shows different money options.. Rs 100, Rs 500, Rs 1000, Rs 2000, Rs 5000 and others... Click on the amount you want to withdraw... After that a QR code will appear on the screen.

Now after that scan the QR code on the UPI app... After that users have to select the bank account. Then enter the UPI PIN. Your selected amount will be withdrawn from the UPI ATM.