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ARTICLE

security) is displayed on the ATM
screen. To complete the
transaction, the customer scans
this QR code using any UPI-
enabled mobile application and
authorizes the withdrawal by
entering their UPI PIN on their
mobile device. This process
enables the customer to receive
cash from the ATM without using
a physical card, making the
transaction more secure and
convenient.

The UPI-ATM (ICCW)

service boasts several
key features:
Source: NPCI Interoperability: The service is designed to function
seamlessly across different banks, allowing customers to
NPCI's vision is ambitious: aiming to achieve a billion withdraw cash from any participating bank's ATM that is
payments per day within the next 2-3 years. Their enabled for UPI-ATM transactions.
confidence in achieving this target is rooted in the expanding
smartphone penetration and improved internet accessibility, Card-less Transaction: Eliminates the necessity for a physical
particularly in rural regions, which are expected to drive the debit card. Customers can initiate and complete cash
demand for digital transactions. NPCI estimates a current withdrawals from ATMs solely through their UPI-enabled
user base of 350 million, with a projected addition of another mobile application.
300 million users within the next three years, forming the
foundation for achieving the billion daily transactions. To Transaction Limit: Each transaction using UPI-ATM is capped
realize this goal, a concerted effort is required to increase at .10,000. This limit is within the framework of the overall
the user base, expand the merchant network, and diversify
the range of payment methods available.

The UPI-ATM Cash Withdrawal, also known as the
Interoperable Cardless Cash Withdrawal (ICCW) service, is
a novel offering by NPCI as part of their drive to achieve
their ambitious transaction volume targets. This service
allows customers of participating banks, who are active
users of the Unified Payments Interface (UPI), to withdraw
cash from ATMs of other participating banks that are
enabled for UPI-ATM, all without the need for a physical
debit card.

When a customer opts for 'UPI cash withdrawal' at the ATM,
they are prompted to input the desired withdrawal amount.
Subsequently, a single-use dynamic QR code (signed for

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