Hitachi Payment Services announces India’s first ever UPI-ATM

Hitachi Payment Services

Hitachi Payment Services, India’s leading provider of payments and commerce solutions, announced the launch of the country’s first-ever UPI-ATM as a White Label ATM (WLA) in collaboration with the National Payments Corporation of India (NPCI), which will provide secure card-less cash withdrawals. By eliminating the need for actual cards, the UPI-only White Label ATM dramatically improves client security.

Customers would benefit from a unified and secure user experience as well as the convenience of card-less cash withdrawals with the Hitachi Money Spot UPI ATM. Furthermore, it will promote financial inclusion by making banking services more accessible in places with low traditional banking infrastructure and card penetration.

The Hitachi Money Spot UPI ATM provides a smooth digital experience for clients by leveraging modern and innovative technology. Hitachi Payment Services has been at the forefront of introducing innovative payment options and is now the only White Label ATM operator to offer Cash Deposit. This service is available at over 3,000 ATM locations.

Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, said, “As India’s leading end-to-end payments and commerce solutions provider, we are happy to launch an industry-first offering in the White Label ATM space with Hitachi Money Spot UPI ATM. This novel offering empowers any bank customer to experience the convenience of QR-based UPI cash withdrawals. UPI has been the fastest growing payment mode in the country and accounts for more than 50% of digital transaction volumes. The Hitachi Money Spot UPI ATM is a testament to Hitachi Payment Services’ technological capabilities and commitment towards making innovative banking services accessible to citizens across the country.”

Commenting on the announcement, Mahesh Patel, Director – Products and Digital Transformation, Hitachi Payment Services, said “We are excited to launch the country’s first-ever UPI ATM on Android platform for our White Label ATM network in association with NPCI. The Hitachi Money Spot UPI ATM is built on Android OS and brings in significant possibilities of transitioning from legacy architecture of transaction processing and ATM management to offering solutions in line with evolving technology. We believe the UPI ATM is a major milestone in the banking landscape.”

Also Read | IDFC First Bank made digital rupee app compatible with UPI QR

National Payments Corporation of India (NPCI), said, “We are delighted to empower customers with this innovative and customer-friendly enhancement for ATM transactions. The launch of the ‘UPI ATM,’ will mark a significant milestone in banking services by seamlessly integrating the convenience and security of UPI into traditional ATMs. This innovative concept is designed to provide quick access to cash even in the remote areas of India without the need for a physical card.”

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.