Hitachi Payment Services has announced the launch of an upgradable ATM. As per the company, these can be transformed into high-performance Cash Recycling Machine (CRM) and manufactured under the Make in India initiative, these new upgradable ATMs provide flexibility to banks.
With this launch, Hitachi Payment Services aims to enhance access to a wide range of banking services, promoting financial inclusion especially in areas with low banking penetration. In September 2023, the company also introduced the first-of-its-kind UPI ATM on Android platform for card-less cash withdrawals.
Moreover, Hitachi Payment Services manages over 76,000 of the total 2,64,000 ATMs/CRMs currently operational in India.
Talking about the launch, Sumil Vikamsey, managing director and CEO, Cash Business, Hitachi Payment Services, said, “The Upgradable ATM is a revolutionary leap forward for the Indian ATM industry, setting new standards in banking automation as it will offer an efficient upgrade path to Cash Recycling Machines while empowering banks to optimize their ATM networks.”
The company is also aligned with the recent monetary policy announcement by Reserve Bank of India (RBI) to enable UPI for cash deposit facility, as its new-age solution is designed to support UPI based cash withdrawal and cash deposit.