On Thursday, i.e. 1st April, NCR Corporation, known as the creator of automated teller machines (ATM), has introduced its first ICCW (interoperable cardless cash-withdrawal solution in collaboration with City Union Bank. But, this system is based on the Unified Payments Interface (UPI) platform. Presently, the bank has upgraded around 1,500 ATMs with a facility that will be QR code-based.<\/p>\n\n\n\n
Navroze Dastur, managing director for India and regional vice-president for South East Asia at NCR Corporation, has told the news agency PTI, “This a step ahead from using UPI app on the mobile phone to an ATM but sans any cards.”<\/p>\n\n\n\n
He even stated that this is a next-generation solution and very convenient for the consumers. Kamakodi also said, “We have partnered with NCR to present ICCW solution that will allow us to deliver this next-generation solution to our customers which will enable them card-less cash withdrawal using UPI QR code at our ATMs.”<\/p>\n\n\n\n
Everything that you need to understand about this cardless cash-withdrawal facility-<\/p>\n\n\n\n
Firstly, by utilizing the facility, the consumer can withdraw cash by utilizing their mobile with many UPI applications like GPay, Paytm, and BHIM.<\/p>\n\n\n\n
Secondly, customers are not required to swipe or carry their cards to ATMs; only they have to scan the QR code on the screen. After this, the user needs to approve the cash withdrawal through their mobile phone.<\/p>\n\n\n\n
Thirdly, to improve the safety of the transactions, the QR code will be changed often. However, the transaction is based on a dynamic QR code, which QR code can’t be replicated as each transaction code changes.<\/p>\n\n\n\n
Fourthly, the withdrawal limit is confined to Rs. 5,000.<\/p>\n\n\n\n
Fifthly, the customer will be able to avail of the dynamic QR code-based interoperable cardless cash withdrawal facility from any of the bank’s ATMs if it has been upgraded.<\/p>\n\n\n\n
Read More:<\/strong><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" On Thursday, i.e. 1st April, NCR Corporation, known as the creator of automated teller machines (ATM), has introduced its first ICCW (interoperable cardless cash-withdrawal solution in collaboration with City Union Bank. But, this system is based on the Unified Payments Interface (UPI) platform. Presently, the bank has upgraded around 1,500 ATMs with a facility that […]<\/p>\n","protected":false},"author":1,"featured_media":2403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[47],"tags":[],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/posts\/2401"}],"collection":[{"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/comments?post=2401"}],"version-history":[{"count":0,"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/posts\/2401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/media\/2403"}],"wp:attachment":[{"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/media?parent=2401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/categories?post=2401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/tags?post=2401"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/businesstalkmagazine.com\/wp-json\/wp\/v2\/yst_prominent_words?post=2401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}