UPI ATM Machine Franchise, UPI Withdrawal Features & Step By Steps Guide How to Use?

UPI ATM Machine Franchise- The National Payment Corporation of India (NPCI), which created the UPI ATM Machine so that you may withdraw money using UPI, has reached another milestone in the banking services. The UPI apps on your phone, such as GPay, PhonePe, and PayTM, allow you to withdraw cash, therefore this is correct. You should be aware that the Global Fintech Fest, which took place in Mumbai from September 5–7, 2023, saw the introduction of the UPI ATM Cash Withdrawal Machine.

It was created by Hitachi and made public in cooperation with NPCI. Additionally, it has come to our attention that you are able to set up a UPI ATM Cash Withdrawal Machine Franchise in your area and start earning money from it by applying online. This page includes all of the features of a UPI ATM machine, including information on withdrawal limits, how to withdraw money, and other related topics. According to information that has been provided to us, the initial UPI ATM Machine Withdrawal Limit is Rs 10,000, with a potential increase when the operation is deemed effective.

UPI ATM Machine Franchise

India continues to set milestones in technological advancement, and they have now introduced a new service for Indian citizens. The NPCI has introduced the UPI ATM Machine, which will be highly useful for citizens, in response to the enormous success of UPI and the convenience of transactions. Because it is a White Label ATM, anyone may purchase and put it up for the convenience of Indian people. This machine allows the account holder to utilize their UPI App to Withdraw Cash from the Machine, according to information supplied to us by NPCI.

You may just use the UPI App to withdraw the cash in this procedure without using a debit or credit card. The UPI users would find this way to be quite beneficial as it makes transactions in mainland India much simpler. On the Internet, there are several videos that demonstrate how UPI ATM Cash Withdrawal Machines operate. You may use it to withdraw money once it becomes accessible in the majority of Tier 1 Cities in India in the upcoming days.

NPCI UPI ATM Machine Overview

UPI ATM Cash Withdrawal Machine

On September 5–7, 2023, Mumbai hosted the Global Fintech Festival, which saw the introduction of the UPI ATM Cash Withdrawal Machine. In this occasion, NPCI (National Payment Corporation of India) introduced the Hitachi-developed UPI ATM Cash Withdrawal Machine with full end-to-end encryption. With this machine, bank account holders or UPI users may withdraw cash without needing a physical credit card, debit card, or other type of card. To finish the withdrawal, all you need to do is scan the QR code and pay the required sum. You may withdraw a set amount using the UPI App on your mobile device, such as GPay, PhonePe, and PayTM, ranging from Rs 500 to Rs 10,000.

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UPI ATM Cash Withdrawal Machine Franchise Eligibility

Before opening an ATM franchise in your area, be sure you are eligible. You may begin earning money right away. There are requirements for using the ATM machine.

• The rules specify that there must be 300 transactions every day at the very least.
• There shouldn’t be another bank within 100 meters of your UPI ATM Cash Withdrawal Franchise Machine.
• Concrete roofs are necessary for ATMs to ensure their security.
• A business site of 50 to 80 square feet is needed for the ATM.
• It is recommended that the electrical connection have a power rating of at least 1KW and be able to deliver electricity continuously for 24 hours a day.
• The position of the ATM must be on the ground floor and have excellent visibility.

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UPI ATM Machine Franchise Investment Cost & Income

If you can set aside a location for the ATM franchise, the required investment will be little. Entrepreneurs often need to deposit money between 2 and 3 lakhs into the approved bank as security. Consider the SBI Bank’s offer of a 2 lakh franchise for an ATM in return for security. Therefore, it could be essential to raise operating capital in the range of 3–4 lakhs. With this business investment, you can expect to earn between $25,000 and $90,000. The daily transaction and ATM machine placement are the two main factors affecting revenue.

Account checks, mini statements, and other items are also included in this process. You may submit an online application for a UPI ATM Machine Franchise if you’re interested in launching a new business with an ATM Machine franchise. Consider a daily transaction of 300–400 rupees done by a machine. In this case, 35% of the transactions would be deemed non-cash transactions, while the remaining 65% would be considered cash transactions.The ROI, calculated annually, is predicted to range between 33% and 50%.

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UPI ATM Withdrawal Limit

In the Pilot Stage, the UPI ATM Withdrawal Limit is Rs 10,000; it is anticipated that it would be increased in the upcoming days. You may select the withdrawal amount from a range of Rs 500, Rs 1,000, Rs 2000, Rs 5000, and Rs 10,000 depending on your needs. The Transaction Charges, which will be borne by the user, have not yet been clarified, although we anticipate that they soon will. Additionally, you may buy a White Label ATM and use it at home to make personal withdrawals. This device was created by Hitachi and will soon be made available in Tier 1 cities.

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Documents required for Franchise

The relevant papers listed below must be submitted if you want to submit an application for an ATM franchise.

• Aadhaar, a voter card, a PAN card, or another kind of identification.
• Utility bills and ration cards are examples of address verification.
• Email address, phone number, etc.
• Details such as a passbook for a bank account.
• Four passport-size photos, as well as financial records proving your net worth such a profit and loss statement and a balance sheet
• GST Registration, a GST Number, etc.

How to Apply Online for UPI ATM Machine Franchise Near Me?

• Decide on your location first. (Nearby UPI ATM Machine Franchise)
• then decide between any bank’s franchise offers. To apply for the franchise opportunity, visit the official website.
• Additionally, you may research which banks to contact for a partnership with an India ATM Franchise on the Indicash website.
• Installing your ATM with an established business like Indicash, Muthoot, or India One is recommended. the official web addresses of the websites listed below.

Conclusion

UPI ATM machine franchise can be a lucrative business opportunity. With the rise in digital payments and the increasing popularity of UPI (Unified Payments Interface), having an ATM machine that supports UPI transactions can attract a large customer base. UPI allows users to instantly transfer money between bank accounts using their smartphones, making it a convenient and secure payment option. By becoming a franchisee, you can tap into this growing market and provide customers with easy access to cash withdrawals and UPI transactions. As a franchise owner, you’ll benefit from the established brand reputation and support of the franchisor, as well as ongoing training and marketing assistance.

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