Hitachi Payment Services, India’s leading provider of payments and commerce solutions, announced India’s first Android-based cash recycling machine, which also serves as a Digital Banking Unit, providing one-stop services in a modern digital banking environment. The Android-Based Cash Recycling Machine, HPDx-BU01, is a big step towards improving customer convenience and experience while boosting operational and cost efficiency in banks. The Android-Based Cash Recycling Machine was presented at GFF with the National Payments Corporation of India (NPCI).
Its complete range of capabilities, which combine the benefits of traditional Cash Recycling Machines (CRMs) with the agility and flexibility of the Android platform, may be adapted to various financial needs. Using an advanced technological platform, it enables banks to develop a bespoke digital banking environment, offering a variety of banking and non-banking services based on business needs and local market demands. These services include QR-based UPI cash withdrawal and deposit, account opening, credit card issuance, personal loans, insurance, MSME loans, and FASTag application and recharge.
Among these services, the QR-based UPI cash deposit is a new feature in India. It provides customers with the ease of card-less cash deposits 24 hours a day, seven days a week into their own and other people’s bank accounts. The unique approach dramatically improves consumer security and gives customers more power by eliminating the need for physical cards while also providing an improved user experience via intuitive touch screens.
Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, stated, “We are thrilled to launch India’s first Android-Based Cash Recycling Machine, which represents a significant shift in the way banking services would be delivered. Ushering in a new era of banking technology, it will play a pivotal role in digitalizing banking services and expanding access to such services across India. As we continue to bridge the gap between traditional and digital banking, we believe that the Android-Based Cash Recycling Machine will transform self-service banking touchpoints into essential hubs for financial engagement, driving financial inclusion and allowing banks to extend their reach and serve customers more effectively, regardless of their location.”
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NPCI spokesperson said, “We are happy to see innovative banking solutions that not only meet customer needs, but also keep pace with the changing digital environment. By integrating comprehensive banking services onto a single platform, the Android-based Cash Recycling Machine, that functions as a Digital Banking Unit, can make it easier for banks to deliver convenient and secure digital services to their customers, even in remote areas. We believe that UPI based cash withdrawal and deposit functionality, and Android based Cash Recycling Machines can further boost the adoption of banking services and contribute significantly to the growth of ATM channels in the country.”
Hitachi Payment Services has been in the forefront of introducing novel payments services, like the UPI ATM on the Android platform and the Upgradable ATM. Hitachi Payment Services, a pioneer in the Indian payment industry, provides a wide range of payment solutions, including ATM Services, Cash Recycling Machines, White Label ATMs, POS Solutions, Payment Gateway Solutions, Toll & Transit Solutions, Financial Inclusion Solutions, and innovative offerings such as UPI Solutions, SoftPOS, Value Added Services, AI & ML-based solutions, and a next-generation mobile-based merchant platform. The organisation is dedicated to providing excellent customer experiences and promoting financial inclusion throughout India.
