No ATM, No Card: Jio Payments Bank Enables UPI-Based Cash Withdrawals
The initiative is part of a broader push by its parent, Jio Financial Services, to deepen financial inclusion.
No ATM, No Card: Jio Payments Bank Enables UPI-Based Cash Withdrawals
Jio Payments Bank has enabled cash withdrawals using UPI, allowing customers to access money without needing a debit card or visiting an ATM.
The facility works through ‘Business Correspondent touchpoints’, where users can withdraw cash by scanning a QR code and approving the transaction on their UPI app. These touchpoints act as mini banking outlets, offering basic services closer to customers, especially outside urban centres.
The initiative is part of a broader push by its parent, Jio Financial Services, to deepen financial inclusion and expand the reach of digital banking services.
By leveraging the widespread use of Unified Payments Interface, the new feature simplifies access to cash, particularly in rural and semi-urban areas where ATM availability can be limited.
The company said the move is expected to strengthen the digital payments ecosystem while making everyday banking more convenient and accessible for a wider set of users.