Hitachi Payment Services, a subsidiary of Japan’s Hitachi, has introduced a new ATM. This first-of-its-kind White Label ATM (WLA) was launched in collaboration with the National Payments Corporation of India (NPCI). According to a report by The Economic Times, the Hitachi Money Spot UPI ATMwill allow users to withdraw cash without the use of debit or credit cards.This ATM was unveiled at the Global Fintech Fest 2023 in Mumbai on September 5.
The company claims that this UPI-ATM marks a shift in conventional banking practices. As the ATM expands to various locations, it will mitigate the need to carry physical cards to ATMs for cash withdrawals. These ATMs will allow customers to make cash withdrawals from bank accounts through the UPI apps.
UPI ATM: Availability
Anyone with a registered UPI app will be eligible for UPI ATM transactions. Both Android and iPhone users will be able to use these ATMs. Sunil Vikamsey, Managing Director & CEO of Cash Business at Hitachi Payment Services said that Payment Service Providers (PSPs) equipped with Interoperable Cardless Cash Withdrawal (ICCW) certification, as well as onboarded issuer banks, will be able to utilise this functionality.

Vikamsey also noted that the deployment of UPI ATM is slated to commence in the coming months. These UPI-ATMs are also expected to improve security by eliminating the risk of card skimming by scammers and fraudsters.
How to withdraw money from a UPI-ATM
Vikamsey has also outlined the steps to use the UPI-ATM. Here’s a step-by-step guide:

UPI-ATM vs cardless cash withdrawal: How is it different
Vikamsey also explained the difference between UPI-ATM and cardless cash withdrawals. The key differentiator is that cardless cash withdrawals rely on mobile and OTP while the UPI ATM involves QR-based UPI cash withdrawals. Currently, several banks offer customers the options of both cardless as well as UPI-enabled withdrawals.
What NPCI said about UPI ATM
NPCI said that the introduction of the UPI-ATM will represent a notable advancement in banking services. These machines will integrate the convenience and security of UPI into conventional ATMs. NPCI also adds that this approach will ensure faster cash access, even in remote Indian regions, without the need for a physical card.