Our digital payments revolution in the form of the Unified Payments Interface (UPI) took centre stage at the recently concluded G20 summit. Just before global leaders came to attend the summit, Reserve Bank of India (RBI) Governor Shaktikanta Das announced the launch of new UPI products built by the National Payments Corporation of India (NPCI). At the summit, delegates and leaders were encouraged to use UPI transactions while in India.

The latest buzz in this space is the launch of the first UPI ATM, built and operated by Hitachi Payment Services, in association with NPCI. The UPI ATM offers a cardless and interoperable cash withdrawal facility. “The ATM machine consists of only the screen, cash slot and the safe while the card reader, PIN pad, function keys and receipt slot that are present in traditional ATMs are not included,” says Sumil Vikamsey, managing director and chief executive officer, cash business, Hitachi Payment Services.

While this white-label ATM is meant exclusively for UPI, even regular ATMs allow cardless cash withdrawal using UPI . Let’s understand the steps of how these withdrawals work.