With the world going digital, especially after the Covid-19 pandemic, the United Payments Interface (UPI) has turned out to be one of the leading methods of payment in India.
UPI, first launched in 2016, enables the user to link multiple bank accounts to a single application. It helps in transferring money and also making payments online. The UPI comes under the aegis of the National Payments Corporation of India (NPCI).
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The NCR Corporation has now introduced a new feature via which users will be able to withdraw money from the ATMs using UPI. The method, called Interoperable Cardless Cash Withdrawal (ICCW), can be used with Google Pay, PhonePe, PayTM, and others.
The only thing you will require is an ATM and an active internet connection. The set upper limit for such a withdrawal is Rs 5,000.
Here is a step-by-step guide to withdrawing money from ATM using UPI
Step 1: Visit the nearest ATM and select the 'Withdraw Cash' option
Step 2: Select the 'UPI' option
Step 3: A QR code will now be displayed on the ATM screen.
Step 4: Open your UPI payment app on your mobile phone and scan the QR code.
Step 5: Once the code is scanned, you can enter the amount you want to withdraw. (Not more than Rs 5000)
Step 6: Enter your UPI PIN
Step 7: Click on 'Hit Proceed'
Step 8: Your money will be withdrawn.
