Airtel Payments Bank offers card-less cash withdrawal at ATMs
By MYBRANDBOOK
Airtel Payments Bank has announced that its customers can now make card-less cash withdrawals at over 100,000 ATMs across India.
For this, Airtel Payments Bank has tied up with Empays. The tie up will enable Airtel Payments Bank’s savings account holders to withdraw cash using just their mobile phone through the card-less cash technology of Empays, called IMT (Instant Money Transfer). The technology can be used for self-withdrawal or for sending money to an intended recipient for ATM cash withdrawal.
IMT is the largest interoperable card-less cash ATM network in the world, built and run by Empays Payment Systems India. The facility is currently available for Airtel Payments Bank account holders at over 20,000 IMT enabled ATMs in India and will cover more than 100,000 ATMs by the end of this year.
IMT is accessible to all Airtel Payments Bank account holders through USSD and MyAirtel app. The customers can generate a cash withdrawal request which can be used for withdrawal at any of the IMT enabled ATMs. As an introductory offer, Airtel Payments Bank has waived off Rs. 25 transaction fee for the first two self-withdrawals.
Over 100,000 ATMs belonging to some of the largest banks in the country such as State Bank of India, Axis Bank and Punjab National Bank are linked to the IMT system for card-less cash withdrawals. The network is licensed by the Reserve Bank of India as a payment system and is the only one of its kind in the country.
Anubrata Biswas, Managing Director and Chief Executive Officer, Airtel Payments Bank, says, “We believe in digital India. We are making this a reality by providing innovative digital solutions that enhance banking. Our tie-up with Empays is an important step that enables our customers to realize digital, phone based cash withdrawals at over 100,000 ATMs, through either USSD or the MyAirtel App. We will accelerate such steps to make digital banking with Airtel Payments Bank simple and easy.”
Ravi Rajagopalan, Founder/CEO Empays Payment Systems, says, “We are delighted that Airtel Payment Bank has enabled the IMT capability for its customers. IMT is the largest cardless cash ATM network in the world. We believe IMT will provide an additional convenience to Airtel Payment Bank’s consumers. Airtel Payments Bank is one of the most innovative financial institutions in the country and we are happy to partner with them.”
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
SAMSUNG INDIA ELECTRONICS PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
NUMERIC INDIA, A Group Brand Legrand
SAFE SECURITY SERVICES PVT. LTD.
Technology Icons Of India 2023: Nandan Nilekani
Nandan Nilekani is the Co-Founder and Chairman of the Board, Infosys T...
Technology Icons Of India 2023: Shailendra Katyal
Shailendra is instrumental in Lenovo achieving the no.1 position in PC...
Technology Icons Of India 2023: Bharat Goenka
Bharat Goenka is the Managing Director of Tally Solutions. He is well ...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
NPCI leading India towards Digital payments
The National Payments Corporation of India (NPCI) is an initiative tak...
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
TECH DATA, A TD SYNNEX COMPANY
Tech Data Corporation was an American multinational distribution compa...
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
SUPERTRON ELECTRONICS PVT. LTD.
Supertron deals in servers, laptops, components, accessories and is a...