You can withdraw money from an ATM using UPI without a debit card or PIN

 You can withdraw money from an ATM using UPI without a debit card or PIN

Due to their lack of acquaintance with modern technology, most elderly may prefer cash transactions over digital ones, hence UPI ATMs may make their lives easier.

Seniors tend to favor cash transactions over digital ones because they may have trouble remembering the personal identification numbers (PINs) associated with their debit cards due to their advanced age. UPI ATMs eliminate the need to carry multiple bank cards or enter PINs.

This week, a video of a guy utilizing the Unified Payments Interface (UPI) to withdraw money from an ATM went viral after being shared by Union Minister Piyush Goyal on X (previously Twitter). It demonstrates that he is making cash withdrawals without a card.

The National Payments Corporation of India (NPCI) and Hitachi Payment Services, a division of Hitachi Ltd., jointly launched the UPI ATMs during the recent Global Finance Fest in Mumbai.

Seniors who must carry bank cards and find it difficult to remember their PINs for many bank accounts will benefit greatly from these UPI ATMs.

How Can Seniors Use The UPI ATM Facility To Their Advantage? 

First off, elders do not have to worry about carrying bank debit cards or memorizing PINs. Although UPI ATMs are simple to use, even individuals who are unfamiliar with UPI or do not regularly use it can quickly learn how to withdraw cash from a UPI ATM.  

So let's find out what a UPI ATM is and how it works. 

What Is an ATM UPI? 

With this cardless ATM, bank accounts can have money withdrawn through UPI without the use of an ATM or debit card.

Whom Does It Serve? 

A cardless and interoperable cash withdrawal option is provided by UPI ATM. Using a single UPI app, the withdrawal can be made from various bank accounts.

The "convenience and security of UPI into traditional ATMs," according to NPCI, will be provided through UPI ATMs. In the most remote locations where people may have smartphones but not debit cards, it can enable access to cash.

How Do I Take Money Out Of An UPI ATM (WLA)?  

Seniors can use their phones and the procedures below to withdraw cash from these ATMs.

Step 1: At the ATM, choose the 'UPI cardless cash' cash-out option.

Step 2: Determine the withdrawal amount (you have the choice of Rs 100, Rs 500, Rs 1,000, Rs 2,000, and Rs 5,000).

Step 3: A QR code will appear on the ATM screen once you choose the withdrawal amount. Using the UPI App on your smartphone, scan the QR code.

Step 4: Authorize the transaction by entering your UPI PIN.

Step 5: The ATM will withdraw cash in the same manner as other ATMs. Gather your money. Your purchase has been completed.

Therefore, you simply need to remember your UPI PIN. Due of how simple transactions are, UPI is becoming more and more popular in India. UPI transactions reached 10 million in August 2023, making up roughly 75% of all retail digital payments in India.