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JammuUSFBL leads the way with Interoperable Cardless Cash Withdrawal using UPI on...

USFBL leads the way with Interoperable Cardless Cash Withdrawal using UPI on ATMs


NL Corresspondent

Tawi:  Utkarsh Small Bank Limited (“USFBL” or the “Bank”), today announced the launch of an innovative service, set to revolutionize cash withdrawal experiences. Utkarsh Small Finance Bank is dedicated to offering process-centric, -driven, and customer-oriented services that lead to a reliable, scalable, and sustainable institution, driving socio-economic change.

The Bank is pleased to announce the launch of Interoperable Cardless Cash Withdrawal (ICCW) service, that utilises UPI (Unified Payments Interface) on its ATM networks. This is In line with the Reserve Bank of 's directive in May 2022, urging all banks to provide Interoperable Cardless Cash Withdrawal (ICCW) options at their ATMs, and Utkarsh Small Finance Bank has taken the lead in fulfilling this mandate. The ICCW service empowers bank customers who are active on UPI to conveniently withdraw cash from Utkarsh Small Finance Bank ATMs designated for UPI-ATM – ICCW transactions, all without the need for a physical debit card. Notably, this ground-breaking service extends its convenience not only to Utkarsh Small Finance Bank customers but also to customers of other Banks who employ BHIM Utkarsh, BHIM UPI, or any other ICCW-enabled UPI application on their mobile devices. It's an exciting development that underscores our commitment to enhancing customer experiences. Govind Singh, Managing Director of Utkarsh Small Finance Bank, commented, “This represents a significant improvement, shifting from using an UPI app on a mobile phone to accessing an ATM, without the need for any physical cards. It epitomises next-generation banking solutions, delivering utmost convenience to our valued consumers. He further added,“Utkarsh Small Finance Bank continues to lead the way in banking innovation, making every day financial transactions more accessible, secure, and convenient for our valued customers. We look forward to a future where ICCW becomes a cornerstone of modern banking, ushering in a new era of financial convenience.”




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