Hitachi Payment Services launches India's first-ever UPI-ATM with NPCI
Hitachi Payment Services, a subsidiary of Japan-based Hitachi Limited, announced the launch of India's first-ever UPI-ATM as a White Label ATM (WLA) named Hitachi Money Spot UPI-ATM with the National Payments Corporation of India (NPCI). The company stated that the ATM will offer cardless cash withdrawals, eliminating the need for physical cards. A UPI-ATM allows users to withdraw cash from multiple accounts using the United Payments Interface (UPI) app. WLAs are operated by non-banking entities. It further stated that this will drive financial inclusion by facilitating easy access to banking services in areas where traditional banking infrastructure and card penetration are limited. NCPI further stated that it is pleased to provide this cutting-edge and user-friendly ATM transaction upgrade to consumers. Through the seamless integration of UPI's convenience and security into conventional ATMs, the introduction of the UPI-ATM will represent a key turning point in fi...