People will soon be able to withdraw cash from ATMs using UPI


People will soon be able to withdraw cash from ATMs by scanning a QR code on the machine’s screen instead of swiping a card, by the means of a Unified Payments Interface (UPI) based solution. AGS Transact Technologies, a company which provides ATM services to banks, has developed a system that uses UPI platform to dispense cash from ATMs, according to a Times of India report. The bank account holder only has to subscribe a mobile application that comes with UPI capabilities to facilitate a payment through ATMs.


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The customer has to scan the QR code on the ATM’s screen, similar to when making a payment through a UPI client, which then transfers the money in his account to the ATM-deploying bank and releases the money from the machine, the report explained.

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Banks looking to deploy this service do not have to make huge investments or changes in infrastructure. The service can be activated by a simple software upgrade in the ATMs, AGS Transact said according to the report.


The second generation of UPI, the UPI 2.0, makes cash withdrawals from ATMs using UPI even easier, the report said. The UPI 2.0 includes classification of merchant codes, just like in credit card payments.


The service is currently awaiting approval from the National Payments Corporation of India (NPCI), the report added. The authority is responsible for the switch that controls both ATM networks and the UPI platform, with the latter being a much secure method of transaction.

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