Money at your fingertips via QR: UPI-based cash withdrawals to expand
Money at your fingertips via QR: UPI-based cash withdrawals to expand
Plans are underway in India to broaden UPI-based cash withdrawals beyond ATMs to over 2 million business correspondents, potentially simplifying access, especially in underbanked areas. While awaiting regulatory clearance, this QR-code system offers an alternative to biometric or ATM withdrawals. Concerns exist regarding operational and cyber risks for BCs, but the expansion could significantly boost financial inclusion.
Plans are underway in India to broaden UPI-based cash withdrawals beyond ATMs to over 2 million business correspondents, potentially simplifying access, especially in underbanked areas. While awaiting regulatory clearance, this QR-code system offers an alternative to biometric or ATM withdrawals. Concerns exist regarding operational and cyber risks for BCs, but the expansion could significantly boost financial inclusion.
Plans are underway in India to broaden UPI-based cash withdrawals beyond ATMs to over 2 million business correspondents, potentially simplifying access, especially in underbanked areas. While awaiting regulatory clearance, this QR-code system offers an alternative to biometric or ATM withdrawals. Concerns exist regarding operational and cyber risks for BCs, but the expansion could significantly boost financial inclusion. 
