Hitachi Payment Services will soon launch an upgradable ATM. This machine, which was made under the “Make in India” initiative, offers banks a flexible way to improve their services. This is a new idea in the country because it gives different ways to use ATMs.
Flexibility and Efficiency for Banks
Hitachi owns over 76,000 ATMs in India and expects to sell around 1,00,000 more ATMs in the next eight years. This new idea lets banks change their ATM networks based on what customers want, without having to buy new ones or install them for a long time.
Empowering Banks for Future Expansion
Traditionally, banks have offered 24/7 cash withdrawal and deposit services at their branches using Cash Recycling Machines (CRMs) ATMs have primarily provided cash withdrawal services at offsite locations. The ATM that can be upgraded helps banks offer more services, like depositing money at other places, based on what they need and what’s happening in their area.
Supporting UPI Integration
The upgraded ATM is designed to support UPI-based transactions for both cash withdrawals and deposits. This solution is designed to work seamlessly with digital payment platforms.
Enhancing Financial Inclusion
Hitachi Payment Services wants to use this launch to increase access to a wide range of banking services and promote financial inclusion. This project helps everyone get access to financial services by making it easy to upgrade to CRMs and making banking more advanced.