Hitachi Payment unveils ATM that doubles up as cash recycler
Hitachi Payment Services has launched India's first upgradable ATMs wherein, an ATM unit can be converted to a cash recycling machine (CRM) as and when a bank needs it, eliminating the need for a separate CRM. This can be done at a bank branch, and offsite as well.
Most banks offer deposit services at branches, and withdrawals can happen at off-branch locations. With a way to upgrade ATMs to CRMs, banks eliminate the need to replace ATMs. These machines will be UPI-enabled for cash deposit and withdrawal.
«We realised that this gambit of having an asset just being available to withdraw or deposit cash can't be sustainable. So we wanted to see how we can provide more service on that asset and provide the flexibility of a non-branch location as well,» said Sumil Vikamsey, CEO-Cash Business at Hitachi Payment Services.
In September 2023, the company also introduced UPI ATMs on the Android platform for card-less cash withdrawals. In the near future, they are looking to launch Android cash recycling machines that will provide a host of banking services.
(You can now subscribe to our ETMarkets WhatsApp Read more on economictimes.indiatimes.com
