Home FinTech Hitachi Payment Services launches first-ever UPI ATM at GFF 2023

Hitachi Payment Services launches first-ever UPI ATM at GFF 2023

by The Founder
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Hitachi Payment Services has launched India’s first-ever UPI-ATM as a White Label ATM (WLA), in association with National Payments Corporation of India (NPCI), offering secure cardless cash withdrawals. The UPI-only White Label ATM enhances customer security by eliminating the need for physical cards. The service can be accessed at more than 3,000 ATM locations.

The Hitachi Money Spot UPI ATM would provide customers a unified and secure user experience while offering them the convenience of cardless cash withdrawals

The Hitachi Money Spot UPI ATM would provide customers a unified and secure user experience while offering them the convenience of cardless cash withdrawals. Furthermore, it will drive financial inclusion by facilitating easy access to banking services in areas where traditional banking infrastructure and card penetration is limited. Currently, it is the only White Label ATM operator to offer Cash Deposit facility.

Speaking in this regard, Sumil Vikamsey, Managing Director (MD) and Chief Executive Officer (CEO) – Cash Business, Hitachi Payment Services, said, “….we are happy to launch an industry-first offering in the White Label ATM space with Hitachi Money Spot UPI ATM. This 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 per cent of digital transaction volumes.”

Commenting on the launch, 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.”

A spokesperson from National Payments Corporation of India (NPCI), also 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.”

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