Mumbai: The apex bank in the country, the Reserve Bank of India (RBI) recently announced that all bank ATMs in India will support the cardless cash withdrawal feature using the Unified Payment Interface (UPI). The new facility will allow bank customers to withdraw cash from ATMs without using their debit or ATM cards.
At present, some banks in the country like country like State Bank of India (SBI), HDFC Bank, ICICI Bank and Punjab National Bank (PNB) offer this facility to their customers.
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Some experts has explained how the system will work:
Option 1:
Customer enters details of request on ATM terminal
ATM generates QR code
The customer scans the QR code using the UPI app and approves the request
ATM dispenses the cash
Option 2: Touchscreen ATMs
User to enter UPI ID and withdrawal amount in an ATM terminal
The user gets a request on a UPI cell phone app, approves the transaction using the existing UPI app password
Post successful authentication, cash is dispensed at the ATM
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