The National Payments Corporation of India (NPCI) has introduced an innovative solution called Interoperable Cardless Cash Withdrawal (ICCW), allowing individuals to withdraw cash from ATMs using their smartphones and preferred UPI (Unified Payments Interface) apps. If you come across a UPI-compatible ATM, follow these steps for cardless cash withdrawal:
- Select the "UPI Cardless Cash" or "UPI Cash Withdrawal" option.
- Enter the desired withdrawal amount.
- The ATM generates a one-time QR code.
- Use your UPI app to scan the QR code.
- Authorize the transaction with your UPI PIN.
- The ATM dispenses cash, and a confirmation notification appears in your UPI app.
This UPI ATM feature simplifies the process and eliminates the need for OTP verification, making cash withdrawal more convenient. The withdrawal limit is set at Rs 10,000, and you can switch between different accounts within your UPI app.