Swipe, Tap, Deposit - No Card Needed! ๐Ÿ™…

RBI and NPCI have launched a UPI feature that would allow people to deposit cash at ATMs without using cards.

With the UPI Interoperable Cash Deposit (UPI-ICD) feature, users can make deposits at ATMs that are used to deposit and withdraw cash (cash-recycler machines).

PI-ICD leverages a customer's mobile number linked to UPI, virtual payment addresses and account IFSCs.

These ATMs are cash recycler machines which are used for both cash deposits and withdrawals.

Leveraging their mobile numbers linked to UPI, virtual payment addresses (VPA) and account IFSCs, customers can now do cash deposits, making the process more seamless, inclusive and accessible.