Hitachi Payment Services Launches India's First UPI-ATM in Partnership with NPCI

Introducing India's First UPI-ATM

Hitachi Payment Services, a subsidiary of the renowned Japan-based Hitachi Limited, has made a significant announcement regarding the launch of India's pioneering UPI-ATM in partnership with the National Payments Corporation of India (NPCI).

This innovative initiative is named the "Hitachi Money Spot UPI-ATM" and is set to revolutionize the way Indians access cash.

Cardless Cash Withdrawals with UPI-ATM

The Hitachi Money Spot UPI-ATM is designed to provide users with a convenient and secure means of accessing cash without the need for physical debit or credit cards. This groundbreaking technology leverages the United Payments Interface (UPI) app, allowing individuals to make cardless cash withdrawals seamlessly.

Driving Financial Inclusion

One of the primary objectives of the Hitachi Money Spot UPI-ATM is to promote financial inclusion in India. It seeks to bridge the gap in areas where traditional banking infrastructure and card usage are limited.

By enabling easy access to banking services, this initiative aims to empower individuals across the country.

NPCI's Role in Advancing ATM Transactions

The National Payments Corporation of India (NPCI) plays a pivotal role in this groundbreaking endeavor. NPCI has expressed its enthusiasm in providing consumers with this cutting-edge and user-friendly ATM transaction upgrade.

By integrating the convenience and security of UPI into conventional ATMs, the introduction of UPI-ATM marks a significant milestone in financial services.

Access to Cash, Anytime, Anywhere

With the implementation of the Hitachi Money Spot UPI-ATM, individuals across India, regardless of their location, can quickly access cash without relying on physical cards. This innovation aligns with the growing trend towards digital and contactless transactions, making it more convenient for consumers.

Empowering Bank Customers

Sumil Vikamsey, Managing Director and CEO of Hitachi Payment Services, emphasizes that this offering empowers bank customers by enabling them to enjoy the ease of QR-based UPI cash withdrawals. UPI has gained immense popularity in India and now accounts for more than 50% of digital transaction volumes.

Advancing Technological Solutions

Mahesh Patel, Director of Products and Digital Transformation at Hitachi Payment Services, highlights the significance of this Android-based UPI ATM. This innovative approach not only brings convenience to users but also represents a step away from outdated transaction processing and ATM administration architecture. It positions the industry to keep pace with technological advancements.

Impressive Reach and Impact

Hitachi Payment Services manages an extensive network of 9,500 White Label ATMs (WLAs) and over 65,500 ATMs, which includes 27,500 cash recyclers. This network processes more than 7 million digital transactions daily and supports over 3 million merchant touchpoints, further solidifying its impact on India's financial landscape.

Conclusion:

The launch of India's first UPI-ATM, the Hitachi Money Spot UPI-ATM, represents a significant leap in the evolution of banking services in the country.

This innovative approach, offering cardless cash withdrawals through the UPI platform, showcases the commitment of Hitachi Payment Services and NPCI to advance financial inclusion and provide convenient access to cash for millions of individuals across India.