New Delhi, Sep 9 (SocialNews.XYZ) The government on Wednesday launched multiple innovations at Global Fintech Fest (GFF) 2026 to advance financial inclusion in the country.
The launch by Secretary, Department of Financial Services (DFS), Ministry of Finance, Sanjay Lohiya includes the introduction of Open-Source (Android) ATM for instant Rupay card and merchant UPI QR issuance, the enablement of ‘Credit Line on UPI’ for select government-backed credit schemes, and the introduction of Aadhaar Enabled Payment System (AePS) Three-Party Cash Deposit,
Open Source (Android) ATM for RuPay card and Merchant QR issuance will enable customers to instantly receive personalised RuPay debit, credit and NCMC cards directly from an ATM through a simple self-service journey.
The open-source (Android) ATM will also dispense merchant QR codes for UPI-based payment collections which will help merchants to easily deploy QRs and start accepting payments.
Additionally, these ATMs will also provide banking services such as cheque deposits, account opening and loan applications, the statement from NPCI said.
The solution aims to expand the role of ATMs from just cash withdrawal and deposit machines to intelligent customer service and banking access points.
Customers can receive their cards directly from the machine without waiting for courier delivery or making a branch visit, while merchants can obtain QR codes instantly for UPI-based payment collections.
Banks are also exploring the use of these ATMs as Digital Banking Units (DBUs), enabling them to extend banking services to semi-urban and rural areas where traditional branch infrastructure may be limited.
Additionally, banks can deploy it at metro stations and transit hubs, at airports including instant access to lounges, and at educational campuses and corporate parks, enabling instant issuance of cards to travellers, students and employees.
By enabling instant card issuance at the ATM, banks can improve customer acquisition and onboarding while eliminating the operational overhead associated with branch visits and physical card distribution.
The integration of several government schemes with Credit Line on UPI could transform the credit landscape by making formal credit more accessible, convenient, and digitally enabled for these priority segments.
MUDRA beneficiaries of several banks including state-owned banks can also access these facilities through UPI. More banks are expected to extend these credit facilities on UPI in the coming months.
AePS Three-Party Cash Deposit, an interoperable assisted-banking service that enables a depositor, registered with Aadhaar Biometric Authentication based eKYC, helps deposit cash directly into the bank account of family members or loved ones through participating AePS Touchpoint Operators (ATOs).
The service is designed to extend convenient cash deposit access beyond traditional bank branches by leveraging the established AePS ecosystem.
—IANS
aar/pk
Source: IANS
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