Touchless Cash Transaction from ATM will happen soon in India

The rising cases of the existing pandemic in India forces Tech enthusiasts to develop touchless ATM techologies to withdraw cash from the ATM. Yes, you heard it right, we will soon be able to transact cash from ATM without even touching it.

AGS Transact Technologies, One of India’s leading providers of end-to-end cash and digital payment solutions and automation company has developed a touchless solution to interact with ATMs across India.

The touchless technology to interact with ATMs right now is in beta and interest banks are testing it. Once more and more banks satisfied with the technology it will become available to the daily users.

Do note that In this touchless technology, a user just need a mobile app of their respective bank to interact with the ATM. The ATM displays a QR code which the user has to scan with the bank’s mobile app and then have to enter the mPIN to initiate the required task with ATM.

The company said that this method of interacting with the ATM is much faster and secured. Ravi B. Goyal, Chairman and MD, AGS Transact Technologies says this new touchless ATM solution is an extension of the existing QR Cash solution. Also, an interested bank able to opt this technology with a minimum investment, because, a simple software upgradation is need in the ATMs existing software.

AGS Transact Technologies earlier has introduced UPI QR based cash withdrawal in collaboration with Bank of India. It works as a user simply have to open the bank’s app then select the QR Cash withdrawal option. Then, Feed the required amount in app to withdraw from the ATM. Then, scan the QR code present on the ATM screen, and after that authenticate the transaction by feed the mPIN in the App. As soon as a user complete these steps, the ATM despense the cash and receipt to the user.

In this whole process if you look closely, then a user doesn’t have to touch the ATM at any point except collecting the cash. Now, if the cash will be sanatized properly before feeding it to the ATM then any transmission of disease from the ATM will drastically goes down.

What do you say about this new tech, don’t be shy to comment us below.

Read also: SBI Waived Off Average Monthly Balance Requirement for Savings Accounts


Sanjay likes to write about Social issues, Politics and Movies. In his free time he likes to binge watch Netflix and mind provoking documentaries.

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