India launches UPI-ATM for cardless cash withdrawals

  • The National Payments Corporation of India introduced the UPI-ATM service, also known as Interoperable Cardless Cash Withdrawal.
  • Users can withdraw cash from any ATM that supports UPI-ATM functionality by scanning a dynamic QR code with a UPI app and authorizing the transaction with their UPI PIN.
  • This new method, which doesn’t require a physical card, allows cash withdrawals from multiple accounts and eliminates reliance on mobile numbers and OTPs for cardless withdrawals.
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