Jio Payments Bank Limited (JPBL) has officially announced UPI-based cash withdrawal through its Business Correspondent (BC) touchpoints. The new feature will allow customers to withdraw cash by scanning the UPI QR code and authorising the transaction through their UPI application. This will be eliminating the demand for debit cards or access to traditional ATM infrastructure.
The new capability is actually creating bridges the gap between digital payments and physical cash access. The new service will definitely strengthen the financial setup in rural and semi urban areas.
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