In an effort to offer one-stop services in a contemporary digital banking environment, Hitachi Payment Services recently announced the launch of India’s first Android-Based Cash Recycling Machine, which doubles as a Digital Banking Unit. A major step toward improving client comfort and experience and boosting operation and cost efficiency for banks is the Android-Based Cash Recycling Machine, HPDx-BU01. A cash recycling machine based on Android was presented at GFF in collaboration with the National Payments Corporation of India (NPCI).
With a feature set that can be customized to meet different banking requirements, the Cash Recycling Machine (CRM) blends the advantages of the conventional model with the adaptability and versatility of the Android operating system. With the use of a cutting-edge technological platform, banks may design a personalized digital banking environment and provide a variety of banking and non-banking services based on the demands of local markets and business needs. Among these services are account opening, credit card issuance, personal loans, insurance, MSME loans, QR-based UPI cash withdrawal and deposit, FASTag application and recharge, and personal loans.
Among these products, the QR-based UPI cash deposit feature is being made available in India for the first time. Users may conveniently deposit cash into both their own and other bank accounts 24 hours a day, 7 days a week, without using a card. By doing away with physical cards, the novel solution greatly improves customer security and gives the user more power. It also offers an enhanced user experience with touch screens that are easy to use.
“We are thrilled to launch India’s first Android-Based Cash Recycling Machine, which represents a significant shift in the way banking services would be delivered,” said Sumil Vikamsey, Managing Director & Chief Executive Officer, Cash Business, Hitachi Payment Services. It will play a crucial part in transforming banking services and increasing access to them throughout India, ushering in a new era of banking technology. We think that the Android-Based Cash Recycling Machine will help close the gap between traditional and digital banking by turning self-service banking interactions into vital hubs for financial engagement. This will promote financial inclusion, enable banks to reach a wider audience, and improve customer service no matter a customer’s location.
“We are pleased to see innovative banking solutions that not only meet customer needs but also keep up with the evolving digital environment,” an NPCI official stated. The Android-based Cash Recycling Machine, which doubles as a digital financial unit, can help banks provide their customers with convenient and secure digital services, even in remote locations, by combining a variety of financial services onto a single platform. We think that Android-based cash recycling machines and UPI-based cash withdrawal and deposit capabilities can greatly increase the nation’s ATM network expansion and accelerate the use of banking services.
In the payments space, Hitachi Payment Services has always been at the top of innovation, having recently unveiled the Upgraded ATM and the UPI ATM on the Android operating system. Hitachi Payment Services is a trailblazer in the Indian payment sector, providing an extensive array of payment solutions that include Cash Recycling Machines, ATM Services, White Label ATMs, POS Solutions, Payment Gateway Solutions, Toll & Transit Solutions, Financial Inclusion Solutions, and innovative offerings like Value Added Services, UPI Solutions, SoftPOS, AI & ML-based solutions, and a next-generation mobile-based merchant platform. The organization is dedicated to providing outstanding client experiences and promoting financial inclusion in India.
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