Hitachi Payment Services unveils India’s first Android-Based Cash Recycling Machine
Hitachi
Payment Services, India’s leading payments and commerce solutions provider,
announced the launch of India’s first Android-Based Cash Recycling Machine, that
functions as a Digital Banking Unit, to provide one-stop services in a modern
digital banking environment. The Android-Based Cash Recycling Machine,
HPDx-BU01, marks a significant step towards enhancing customer convenience and
experience while driving operational and cost efficiency for banks. The
Android-Based Cash Recycling Machine was showcased at GFF in association with
National Payments Corporation of India (NPCI).
Combining
benefits of the traditional Cash Recycling Machine (CRM) with the agility and
flexibility of the Android platform, its comprehensive suite of features can be
tailored to various banking needs. Utilizing an advanced technology platform,
it allows banks to create a customised digital banking environment, offering a
range of banking and non-banking services as per business needs and local
market requirements. Some of these services include QR based UPI cash
withdrawal and cash deposit, account opening, credit card issuance, personal
loans, insurance, MSME loans as well FASTag application and recharge.
Among
these services, a functionality being introduced in India for the first time is
the QR-based UPI cash deposit. It offers customers the convenience of 24 X 7
card-less cash deposits in their own bank account as well as other’s bank
account. The innovative solution significantly enhances customer security
and places more control in the hands of the customer by eliminating the need
for physical cards and at the same time provides an enriched user interface
through intuitive touch screens.
Sumil Vikamsey, Managing
Director & Chief Executive Officer – Cash Business, Hitachi Payment
Services,
stated, “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. Ushering in a new era of banking technology, it will play a
pivotal role in digitalizing banking services and expanding access to such
services across India. As we continue to bridge the gap between traditional and
digital banking, we believe that the Android-Based Cash Recycling Machine will
transform self-service banking touchpoints into essential hubs for financial
engagement, driving financial inclusion and allowing banks to extend their
reach and serve customers more effectively, regardless of their location.”
NPCI spokesperson said, “We are happy to see
innovative banking solutions that not only meet customer needs, but also keep
pace with the changing digital environment. By integrating comprehensive
banking services onto a single platform, the Android-based Cash Recycling
Machine, that functions as a Digital Banking Unit, can make it easier for banks
to deliver convenient and secure digital services to their customers, even in
remote areas. We believe that UPI based cash withdrawal and deposit
functionality, and Android based Cash Recycling Machines can further boost the
adoption of banking services and contribute significantly to the growth of ATM
channels in the country.”
Hitachi
Payment Services has been at the forefront of bringing innovative offerings in
the payments domain and in the recent past has introduced the UPI ATM on
Android platform and the Upgradable ATM. A pioneer in the Indian payment
industry, Hitachi Payment Services offers a comprehensive range of payment solutions
including ATM Services, Cash Recycling Machines, White Label ATMs, POS
Solutions, Payment Gateway Solutions, Toll & Transit Solutions, Financial
Inclusion Solutions as well as innovative offerings such as UPI Solutions,
SoftPOS, Value Added Services, AI & ML based solutions and next-gen mobile
based merchant platform. The company is committed to delivering exceptional
customer experiences and driving financial inclusion across India.
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