NCR Corporation, which makes automated teller machines (ATMs), has launched UPI-enabled interoperable cardless cash withdrawal ATMs in the country. The company has partnered National Payments Corporation of India (NPCI) and City Union Bank to launch this facility.
City Union Bank said it has upgraded all of its about 1,500 ATMs to provide this facility.
Using the facility, customers can withdraw cash using their mobile with any UPI enabled app such as BHIM, Paytm, GPay, among others, and won't need to carry their card to the ATM. The customers would need to scan QR code from the ATM and authorise the transaction from the mobile app. Since the QR code is dynamic, it will change with each transaction and hence cannot be copied, which will increase the security of the transactions.
The withdrawal under this facility is currently capped at Rs 5,000, which is likely to be increased later.
NCR Corporation and NPCI are in final stage of discussions with some public and private sector banks, and a formal association with them will also be announced shortly, Navroze Dastur, managing director for India and regional vice-president for SE Asia at NCR Corporation, told PTI.
Explaining cardless withdrawal, Dastur said NCR Corporation has upgraded existing software to allow the facility on City Union Bank's ATMs. As there is no hardware upgrade or change involved, the facility can be made available on all the ATMs just by upgrading the software.
(With inputs from PTI)