Thursday, May 23, 2024
Outlook India
Outlook Business

Hitachi Payment Services Launches First Ever UPI-ATM

It has been launched as a White Label ATM (WLA) in association with National Payments Corporation of India (NPCI)

Hitachi Payment Services Launches First Ever UPI-ATM
POSTED ON September 05, 2023 3:18 PM

Hitachi Payment Services has today announced the launch of the country’s first-ever UPI-ATM as an offering secure card-less cash withdrawals. It has been launched as a White Label ATM (WLA) in association with National Payments Corporation of India (NPCI). The UPI-only White Label ATM significantly enhances customer security by eliminating the need for physical cards.

The Hitachi Money Spot UPI ATM aims to deliver a unified and secure user experience while providing the added convenience of card-less cash withdrawals to customers. Moreover, it seeks to enhance financial inclusion by simplifying access to banking services in areas where traditional banking infrastructure and card usage are limited.

Sumil Vikamsey, managing director and chief executive officer, cash business, Hitachi Payment Services, said, “The Hitachi Money Spot UPI ATM is a testament to Hitachi Payment Services’ technological capabilities and commitment towards making innovative banking services accessible to citizens across the country.” 

“The Hitachi Money Spot UPI ATM is built on Android OS and brings in significant possibilities of transitioning from legacy architecture of transaction processing and ATM management to offering solutions in line with evolving technology. We believe the UPI ATM is a major milestone in the banking landscape.” Mahesh Patel, director, products and digital transformation, Hitachi Payment Services said.

National Payments Corporation of India (NPCI), said, "We are delighted to empower customers with this innovative and customer-friendly enhancement for ATM transactions. The launch of the ‘UPI ATM,' will mark a significant milestone in banking services by seamlessly integrating the convenience and security of UPI into traditional ATMs.

A 100 per cent subsidiary of Hitachi Ltd, Hitachi Payment Services is an integrated payment solutions provider, established in 2008. 

  • Related Articles

    The acquisition will help Hitachi Payments integrate its cash management business into its overall service offerings and enable it to provide comprehensive ATM services to financial institutions

    Hitachi Payment Services To Acquire Writer Corporation's Cash Management Business

    This partnership aims to bring innovative products and platforms into the Hitachi Payments Ecosystem

    Hitachi Payments Launches Its Digital Payments Innovation Hub In Partnership With Plug And Play

    The development came after Rustom Irani, the company's previous managing director (MD) decided to retire from his post

    Hitachi Payment Services appoints Sumil Vikamsey As The New Managing Director