When anyone says UPI, you tend to think of person-to-person payments, or paying online, or sometimes even paying retail stores offline. But what if you could use UPI to withdraw cash from ATMs? Mumbai-based company AGS Transact Technologies has come up with a technology that does just that . Instead of using an ATM card to withdraw cash from an ATM, you need to use your phone to scan the QR code on screen and enter your UPI PIN on the phone. The ATM will then dispense the amount you asked for. The catch is that AGS is awaiting an approval from NPCI for this technology, but the company told Gadgets 360 in an interview that the approval is expected in the coming months. AGS is already in the business of making ATM machines, maintaining them, and via a subsidiary called Securevalue India Limited, it also offers cash management for these ATMs. Here's how the new feature works — you go to an ATM and select withdraw cash via UPI. After that you ...
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