The National Payment Corporation of India (NPCI) has achieved another milestone in the Banking Services as they have launched the UPI ATM Machine in which you can withdraw the money through UPI. Yes, it is true that you can withdraw the Cash by just using the UPI App on your Mobile such as GPay, PhonePe and PayTM. You should know that Global Fintech Fest was held in Mumbai from 5th to 7th September 2023 and during this event, UPI ATM Cash Withdrawal Machine was launched. It is developed by Hitachi and released in collaboration with NPCI. Moreover, it has come into our notice that you can Apply Online UPI ATM Cash Withdrawal Machine Franchise and set it up at your location to earn through it. You can find the complete Features of UPI ATM Machine in this post such as Withdrawal Limit, How to Withdraw and other similar information. As per information coming to us, UPI ATM Machine Withdrawal Limit is Rs 10,000/- initially which is expected to rise after the project is successful.
UPI ATM Machine
As we all know that India is breaking the records of Technology Advancements and now, they have launched yet another utility for Indian Citizens. After the immense success of UPI and ease of transactions, NPCI has launched the UPI ATM Machine which will be very helpful for citizens. It is White Label ATM which means that an individual can also buy it and set it up for ease of citizens in India. As per details provided to us by NPCI, this machine allows the account holder to use their UPI App to Withdraw the Cash from the Machine. In this process, you do not need any Debit Card or Credit Card and you can just use the UPI App to withdraw the Cash. This method makes it very easier to do transactions in mainland India and will be very helpful for the UPI users. Various Videos are available on the Internet which shows the working of UPI ATM Cash Withdrawal Machine. In the coming days, it will be available in most of the Tier 1 Cities in India and then you can withdraw the money using it.
UPI ATM Cash Withdrawal Machine
- The UPI ATM Cash Withdrawal Machine was launched in the Global Fintech Festival conducted in Mumbai from 5th to 7th September 2023.
- In this event NPCI (National Payment Corporation of India) launched the UPI ATM Cash Withdrawal Machine which is developed by Hitachi with complete end to end encryption.
- This machine allows the Bank Account Holders or UPI users to withdraw the money without using the Credit or Debit or any other Physical Card.
- You can simply use the QR Code and pay the amount to get the withdrawal complete.
- There are certain amounts which you can withdraw ranging from Rs 500/- to Rs 10,000 using the UPI App on your Mobile such as GPay, PhonePe and PayTM.
NPCI UPI ATM Machine : Features
|Device Name||NPCI UPI ATM Machine|
|Developed by||Hitachi and NPCI|
|Purpose||Cardless Withdrawal from Bank Account|
|Type of Machine||ATM|
|Type of ATM||White Label ATM|
|Who Can Buy||Anyone Can Buy|
|How to Use||By UPI App|
|Security||End to End Encryption|
|Valid UPI App||GPay, PhonePe, PayTM and all others|
|NPCI UPI ATM Machine Features||Cardless Withdrawal, By Card Withdrawal, UPI to Cash and others|
|UPI ATM Machine Franchise||Buy Online|
|Type of Article||Tech|
UPI ATM Withdrawal Limit
- The UPI ATM Withdrawal Limit is Rs 10,000/- in the Pilot Stage which is expected to be raised in the coming days.
- The Withdrawal Amount will range from Rs 500/-, Rs 1000, Rs 2000, Rs 5000 and Rs 10,000 in which you can choose as per your requirement.
- There is no clarification regarding the Transaction Charges yet but we are expecting it to be there which will be paid by the user.
- You can also purchase your White Label ATM and then use it in your Home for Personal Withdrawal.
- This machine is Developed by Hitachi and it will be launched in the Tier 1 Cities in the coming days.
UPI ATM Machine Franchise
- The NPCI will allow the Bidders to get the UPI ATM Machine Franchise online on their portal.
- You can bid for the UPI ATM Cash Withdrawal Machine and then you can get the franchise.
- Bidders can earn a good amount through the franchise because some percentage of the Charges will be paid to you.
- All of you need to maintain the Cash in the Machine and then commission will be credited at the end of the month.
- We have mentioned the instructions below by using which you can apply for the Franchise.
UPI ATM Withdrawal by QR Code : Instructions
- You can complete the UPI ATM Withdrawal by QR Code using the Instructions below.
- Open the App and Click on Cardless Withdrawal.
- Now, select the Withdraw through UPI App and move ahead.
- Select the Amount and click on generate Code.
- Now Scan the QR Code and complete the payment through your app.
- Once the transaction is complete, you should wait for the machine to dispense the cash.
- Collect the Cash and Use it as per your comfort.
Hitachi UPI ATM Machine
The NPCI and Hitachi have developed the UPI ATM Machine and launched it in the Global Fintech Fest held in Mumbai from 5th to 7th September 2023. This machine is very unique as it allows the users to withdraw the Cash using the UPI app or without any Debit or Credit Card. You should know that Hitachi UPI ATM Machine is White Label ATM Machine which can be used by the Individuals or Organizations. It will be available soon in the Tier 1 Cities of the country and after that, you will be able to enjoy the features offered by them. In the coming days, Bidding will start from the Franchise of the Machine and after that, you can buy it for your use.
FATs on UPI ATM Machine & Franchise
When is the UPI ATM Machine Launched?
UPI ATM Machine was launched in Global Tech Fest conducted in Mumbai.
What is the Feature of UPI ATM Machine?
It allows the user to withdraw Cash without any Debit or Credit Card.
What is the UPI ATM Withdrawal Limit?
UPI ATM Withdrawal Limit is Rs 10,000/-.