Anand Mahindra shares video of UPI ATM machine; here’s how BHIM, GPay, PhonePe, Paytm users can withdraw cash without card

A new UPI ATM machine showcased at the Global Fintech Festival in Mumbai has grabbed the attention of Mahindra and Mahindra chairman Anand Mahindra. In a post on X (formerly Twitter), Mahindra shared a video of a gentleman sharing the features of the new UPI ATM machine. This machine, made by NPCI and powered by NCR corporation, can provide cash using any UPI app like BHIM, Gpay, PhonePe and more. The user will not require any sort of card to withdraw the cash.

In his post, Anand Mahindra marveled at the speed at which India is digitising financial services. He was also curious about the impact this new machine and the spread of UPI could have on credit card companies. 

In the video, the process of withdrawal was also shared. You first need to go to the ATM and click on the ‘UPI Cardless Cash’ option. You’ll then get options of choosing the amount you want to withdraw. From what is shown in the video, you’ll get options of Rs 100, Rs 500, Rs 1000, Rs 2000 and Rs 5000.  After selecting the desired option, a QR code will appear on the screen. The user just needs to open their respective UPI app and scan the code and enter the PIN. Once that’s done your transaction will be processed and the cash will be dispensed. 

Anand Mahindra, in his post wrote, “This UPI ATM was apparently unveiled at the Global Fintech Fest 2023 in Mumbai on September 5. The speed at which India is digitising financial services & making them consumer-centric as opposed to corporate-centric (Alarm bell for credit card companies?) is simply dazzling. (I just have to make sure I don’t misplace my cellphone!)”

Check out the video demonstrating the use of the UPI ATM machine: 

This UPI ATM was apparently unveiled at the Global Fintech Fest 2023 in Mumbai on September 5. The speed at which India is digitising financial services & making them consumer-centric as opposed to corporate-centric (Alarm bell for credit card companies?) is simply dazzling.… pic.twitter.com/krBXhbc9Qh

— anand mahindra (@anandmahindra) September 7, 2023

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