How Does the UPI-ATM Work? - Yoindi

How Does the UPI-ATM Work?

  • Published on: November 3, 2023
  • Author: Yoindi
  • Other

In the age of digital banking and mobile payments, the Unified Payments Interface (UPI) has revolutionized the way we handle financial transactions in India. One of the key features of UPI is the UPI-ATM, a convenient service that enables users to withdraw cash without the need for a physical debit card. In this blog, we will delve into the workings of the UPI-ATM, exploring its benefits and how it has simplified cash withdrawals for millions of users.

What is UPI-ATM?

UPI-ATM, short for Unified Payments Interface at Automated Teller Machines, is an extension of the UPI platform that allows users to withdraw cash from ATMs without a physical debit card. It integrates the UPI and ATM services, providing a seamless and cardless way to access cash.


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How Does UPI-ATM Work?

To use UPI-ATM, you need to have a UPI-enabled mobile banking app installed on your smartphone. Ensure that your bank supports UPI services, and your mobile number is linked to your bank account.

Generate a Mobile Banking PIN:
Once you have a UPI-enabled app, you’ll need to generate a Mobile Banking Personal Identification Number (MPIN). This four or six-digit code is required to authorize transactions through the UPI platform.

Link Your Bank Account:
Open the UPI app and link your bank account by providing the necessary details. The app will guide you through this process, which typically includes selecting your bank and verifying your account.
Request for Cash Withdrawal:
When you need to withdraw cash from an ATM, simply open your UPI app and initiate a cash withdrawal request. You will be prompted to enter the ATM details, including the ATM’s location and the amount you wish to withdraw.

Receive a Transaction ID:
After submitting your request, you will receive a transaction ID or reference number. Keep this information secure, as it is essential for the next steps.

Visit an ATM:
Head to any ATM that supports UPI-ATM transactions. These ATMs are equipped with a UPI symbol or logo, indicating compatibility with the service.

Enter Your Mobile Number and Transaction ID:
At the ATM, select the UPI-ATM option and enter your mobile number and the transaction ID. This information helps the ATM verify your transaction.

Verify with MPIN:
To complete the withdrawal, you’ll be prompted to enter your MPIN, the same code you generated earlier in your UPI app. Once verified, the ATM will dispense the requested amount.

Benefits of UPI-ATM:

Cardless Convenience: UPI-ATM eliminates the need for a physical debit card, reducing the risk of card loss or theft.

Widely Accessible: UPI-ATM is available at numerous ATMs across India, making it a convenient option for cash withdrawals.

Enhanced Security: Transactions require authentication through your MPIN, adding an extra layer of security.

Real-time Tracking: UPI-ATM transactions are tracked in real time through the UPI app, providing transparency and security.

The UPI-ATM service is a remarkable development in the realm of digital banking, simplifying cash withdrawals for users. By seamlessly integrating the UPI platform with ATMs, it offers a cardless and secure way to access cash. With the widespread adoption of UPI-ATM, it’s clear that India’s financial landscape is rapidly evolving, providing users with greater convenience and security in their everyday financial transactions.

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