A video posted by Piyush Goyal created a buzz among netizens on X. The video shows a man using a UPI-ATM to withdraw cash. It is a machine designed to help people withdraw cash using UPI, without the need for a physical card.
The image shows a man using a UPI ATM. (Screen shot)
“UPI ATM: The future of fintech is here!” – wrote the union minister, publishing the video. The clip shows a man explaining how an ATM works. The video shows him withdrawing ₹500 through UPI while using the machine.
Business tycoon Anand Mahindra also shared the same video with a thankful caption. “This UPI ATM was apparently unveiled at the Global Fintech Fest 2023 in Mumbai on September 5. The speed at which India is digitizing financial services and making them consumer-centric, as opposed to corporate-centric (a wake-up call for credit card companies?) is simply dazzling. (Just gotta make sure I don’t lose my cell phone!),” he wrote on X.
Watch this video of a man withdrawing money from a UPI ATM:
The video was released a few hours ago. Since it was shared, it has garnered close to 7.1 lakh views and the numbers are growing fast. Additionally, the share has garnered more than 18,000 likes. People posted different comments while reacting to the video.
What did X users say about this UPI-ATM?
“That’s one BIG leap towards confidence in fintech,” user X shared. “Traveler Feature in UPI Banking System! This feature will allow you to withdraw cash anytime without a physical card,” another joined. “Digital India at its peak. I think har jagah ye honi chahiye [I think it should be everywhere]”, expressed the third. “It’s unbelievable,” added a fourth. “Great news,” wrote a fifth.
About UPI-ATM:
The UPI-ATM service is also known as Interoperable Cardless Cash Drawal (ICCW). Hitachi Payment Services in association with National Payments Corporation of India (NPCI) launched India’s first UPI-ATM on September 5th. Through this machine, users of certain banks can perform “QR-based cashless withdrawals”.
Categories: Trending
Source: newstars.edu.vn