New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    Which company has launched India's first-ever UPI-ATM as

    a White Label ATM (WLA) with the National Payments Corporation of India (NPCI offering cardless cash withdrawals & eliminating the need for physical cards?
    A Hitachi Payment Services Correct Answer Incorrect Answer
    B Pine Labs Correct Answer Incorrect Answer
    C PayPal Correct Answer Incorrect Answer
    D Sharekhan Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Hitachi Payment Services, a subsidiary of Japan-based Hitachi Ltd, has launched India's first-ever UPI-ATM as a White Label ATM (WLA) named Hitachi Money Spot UPI ATM, with the National Payments Corporation of India (NPCI). The ATM will offer cardless cash withdrawals, eliminating the need for physical cards. A UPI-ATM allows users to withdraw cash from multiple accounts using the United Payments Interface (UPI) app. WLAs are operated by non-banking entities. Thus it will drive financial inclusion by facilitating easy access to banking services in areas where traditional banking infrastructure and card penetration is limited.

    Practice Next