The Bank of Baroda (BoB) has launched its UPI ATM facility, allowing cash withdrawals based on QR codes at over 6,000 ATMs across the country.
The bank said in a statement that it is the first public sector bank to launch UPI ATMs in coordination with the National Payments Corporation of India (NPCI) and powered by NCR Corporation.
BoB said its customers, as well as those of all participating issuing banks, can withdraw cash from its UPI ATMs using any UPI-enabled mobile app without using a debit card.
UPI ATMs feature Interoperable Cardless Cash Withdrawal (ICCW) technology to facilitate cardless cash withdrawals through ATMs, enabling seamless QR code-based cash withdrawals without carrying a card.
Joydeep Dutta Roy, Executive Director, BoB said, “UPI ATM devices provide people with a convenient and secure way to withdraw cash without using a bank card. UPI ATMs combine the popularity and security of UPI with the wide reach and availability of ATMs combine together.”
“Some of the major benefits of UPI ATM facility are that customers can withdraw cash from multiple accounts linked to UPI. UPI ATM transactions are also faster, more convenient and safer as it generates a one-time dynamic QR code for every transaction, and ensure a secure banking experience.”