What is UPI ATM? FAQs on how to withdraw money from new UPI-only ATM answered

India’s “first UPI-only ATM”: Hitachi Payment Services, a subsidiary of Japan’s Hitachi, has introduced a White Label ATM (WLA) in collaboration with the National Payments Corporation of India (NPCI), known as the Hitachi Money Spot UPI ATM. This ATM enables cash withdrawals without the use of debit or credit cards, according to an ET report.
Unveiled at the Global Fintech Fest 2023 in Mumbai on September 5, 2023, this UPI-ATM marks a shift in conventional banking practices. With its expansion to various locations, the necessity of carrying physical cards to ATMs for cash withdrawals will become a thing of the past. UPI-ATM functions by permitting cash withdrawals from bank accounts through the Unified Payments Interface (UPI) applications.
How can you withdraw money from a UPI-ATM?
To use the UPI-ATM, follow these straightforward steps outlined by Sumil Vikamsey, Managing Director & CEO – Cash Business at Hitachi Payment Services:

How is UPI-ATM different from cardless cash withdrawal?
Distinguishing the UPI-ATM from cardless cash withdrawal, Vikamsey emphasizes that while cardless cash withdrawals rely on mobile and OTP, the UPI ATM is centered around QR-based UPI cash withdrawals. As of now several banks offer the facility of cardless withdrawal and even UPI enabled withdrawals.
The introduction of the UPI-ATM represents a notable advancement in banking services, seamlessly integrating the convenience and security of UPI into conventional ATMs, says NPCI. The National Payments Corporation of India also adds that this innovative approach ensures swift cash access, even in remote Indian regions, without the need for a physical card.
Who all can use the UPI ATMs?
As for eligibility, anyone with a registered UPI application on their Android or iOS device can use UPI-ATMs, ET quoted Vikamsey as saying. Additionally, Payment Service Providers (PSPs) equipped with Interoperable Cardless Cash Withdrawal (ICCW) certification, as well as onboarded issuer banks, can utilize this functionality. Vikamsey anticipates the inclusion of more banks and UPI PSPs in the future.
While the UPI-ATM has been made available for use during the Global Fintech Fest 2023, its deployment is slated to commence in the coming months, according to Vikamsey.
Furthermore, the UPI-ATM is expected to enhance security by eliminating the risk of card skimming by fraudulent individuals.