RNFI has introduced a new cardless cash withdrawal service in collaboration with Jio Payments Bank, aiming to enhance access to digital banking across India.
The facility allows users to withdraw cash by simply scanning a UPI QR code at authorised outlets within RNFI’s Business Correspondent (BC) network. The process removes the need for debit cards or ATM visits, offering a faster and more accessible way to access cash.
Customers can use any UPI-enabled app to scan the QR code and approve the transaction, after which the cash is handed over instantly at the outlet.
The initiative is particularly focused on improving banking access in rural and semi-urban regions, where ATM infrastructure may be limited. By leveraging BC touchpoints, RNFI is helping bridge the gap between digital payments and physical cash availability.
The move also supports the growing adoption of UPI, India’s real-time payment system, by extending its use beyond digital transactions into cash withdrawal services.
Industry experts believe such solutions can play a key role in advancing financial inclusion, especially among users who rely heavily on cash and are gradually adopting digital platforms.
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