To strengthen India’s digital payments and advance financial inclusion in the country, Jio Financial Services subsidiary Jio Payments Bank Limited (JPBL) has introduced UPI-based cash withdrawal through its Business Correspondent (BC) touchpoints.
Cash withdrawal via UPI
This feature enables customers, especially in rural and semi-urban areas, to conveniently withdraw cash by scanning the UPI QR code and authorising the transaction through their UPI application, eliminating the need for debit cards or access to traditional ATM infrastructure.
By enabling cashless card withdrawals at BC touchpoints, this new service bridges the gap between digital payments and physical cash access, while providing first-time digital users with an assisted and secure way to experience UPI transactions.
With this cash withdrawal service via UPI, JPBL continues to leverage the digital payments infrastructure and its last-mile BC network to expand accessible banking services, strengthen UPI’s reach among cash-dependent segments, and also enhance financial inclusion across rural and semi-urban India. This move will also accelerate digital payment adoption.
Stay tuned with The Tech Outlook for the latest tech updates.
