UPI ATMs Launched - Withdraw Money From UPI
- 928
- 13
-
- Last Comment
A UPI-ATM allows you to withdraw cash from your bank accounts using the United Payments Interface (UPI) applications. It offers you the same convenience of cardless cash withdrawal. The UPI-ATM is simple to use, secure, and effortless
Hitachi Payment Services has introduced 'the country's first-ever UPI-ATM as a White Label ATM (WLA) in association with National Payments Corporation of India (NPCI).
-Select the desired withdrawal amount.
-The UPI QR code corresponding to the selected amount will be displayed.
-Scan the QR code using your UPI app.
-Enter your UPI PIN to authorize the transaction.
-Collect your cash.
At present, card-less cash withdrawals rely on mobile numbers and OTPs, while UPI-ATM operates through QR-based UPI cash withdrawals. UPI-ATM is accessible to UPI users who have a UPI application installed on their Android or iOS devices.
Users must have a UPI application installed on either their Android or iOS smartphones to perform transactions.
- Sort By
Can we withdraw cash from Paytm payment bank without physical debit card
How @abhishek012 missed it?
Bruh i dont like this govt but they totally changed the economy with upi 🔥
PROCESS FOR FRAUDSTERS
1) The fraudster has to select the option ‘UPI cash withdrawal’ at any UPI enabled ATM.
2) The fraudster shall be prompted to enter the withdrawal amount.
3) After entering the amount, a single-use dynamic QR code (signed) shall be displayed on the ATM screen.
4) The fraudster needs to take a photograph of the QR code and share with the victim requesting the victims to scan the QR code with their UPI App and validate the PIN to receive a payment from the fraudster/IT Refund/Lottery winning etc..
5) 1 in 10 victims will fall into this trap. On validation of QR code with UPI PIN by the victim, fraudster will receive cash directly from the ATM without the need of any 2nd factor authentication (OTP)
6) The fraudsters now do not need to open fake bank accounts in remote locations to transfer the fraudulent amount or skim & clone ATM cards.
7) This will be very cost effective for fraudsters and will make it even more difficult to trace or recover the fraudulently withdrawn cash.
![Instamart: Get Flat ₹50 Off on orders above ₹399 [USER SPECIFIC]](https://cdn1.desidime.com/topics/photos/1883335/medium/ymXDmYihTOzgPDddKSvZRKzXkboAapBF2yoFIeQBaWSAJmC9IUpSPKgvfaAgS5yFxQ_w240-h480.?1732370463)
![[Upcoming] Get Flat 20 rs Cashback after Sucessful bill Payment and recharge of min rs 100(11:00 a.m to 7:00p.m.) (25th-26th Nov)](https://cdn3.desidime.com/topics/photos/1883473/medium/bajaj-pay-16.?1732423817)
This counts under usual ATM transactions.