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Popular <keyword id="6358921" type="ORGANIZATION" weightage="20" keywordseo="upi">UPI</keyword> and <keyword id="490792" type="PERSON" weightage="20" keywordseo="Mobile-wallet">mobile wallet</keyword> app PhonePe was launched in 2016 and has come a long way since then. It is no longer only a wallet app and now offers several functions including ordering food, fee payment,<a href="https://www.businessinsider.in/tech/apps/how-to/buy-sell-gold-phonepe/articleshow/73520605.cms"> gold purchase</a> and more. PhonePe recently added a new feature that will allow users to withdraw cash from their bank accounts without using a card. The <keyword id="8639344" type="UNKNOWN" weightage="20" keywordseo="phonepe-atm">PhonePe ATM</keyword> is a digital ATM wherein the company has partnered with merchants to allow users to withdraw cash. The PhonePe ATM feature was introduced earlier this month and is still being rolled out. It is to be noted that this service is completely free, and the user will not be charged anything for using this service. The withdrawal limit will depend on the limit set by your respective bank. How to withdraw cash from PhonePe ATM 
 
 
 
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 <ul><li>Open the PhonePe app on your device.</li><li>At the bottom, click on the ‘Stores’ tab.</li><li>Now, click on the ‘PhonePe ATM’ icon.</li><li>Then, click on ‘Withdraw now’.</li><li>Select a store from the available stores’ and then click on ‘Withdraw Cash’.</li><li>Now, in the currency box, enter the amount you want to withdraw.</li><li> Select the bank account from which you want to debit or withdraw the money.</li><li>Now, click on ‘Pay to Withdraw’ and enter your PIN.</li><li>Now, go to the store that you had selected and collect the cash.</li></ul>Commenting on the launch of the PhonePe ATM service, Vivek Lohcheb, head of offline business development, PhonePe said, “The PhonePe ATM allows customers to withdraw cash without any hassle through our trusted merchant partners. It also helps merchants avoid the hassle of storing cash and making multiple trips to the bank branch to deposit their extra cash.” According to<a href="https://www.businessinsider.in/advertising/brands/article/phonepe-is-looking-at-bharat-for-its-next-phase-of-growth/articleshow/72295764.cms"> a press release</a>, PhonePe has over 9 million registered partners across 300 cities in India. It also has over 185 million registered users, out of which 66 million are<a href="https://www.businessinsider.com/google-pay-adds-features-to-court-indian-merchants-2019-9"> reported</a>ly active. With widespread acceptance across merchants, PhonePe ATM has the potential to become a bridge between users as well as the merchants who wish to save a visit to the bank for cash deposits. Increased footfalls in merchant stores could also help them generate sales from PhonePe ATM users, making it a win-win for all the parties involved. See also: <a href="https://www.businessinsider.in/tech/how-to/recharge-fastag-phonepe-google-pay-bhim/articleshow/73485125.cms">How to recharge your FASTag using PhonePe, Google Pay and BHIM</a> <a href="https://www.businessinsider.in/tech/apps/how-to/buy-sell-gold-phonepe/articleshow/73520605.cms">How to buy and sell gold on PhonePe</a>

How to withdraw cash from PhonePe ATM

The popularity of online wallets and UPI apps has made payments quick and easy. Customers no longer have to worry about carrying cash or debit cards with them while going out. However, there are still many places that do not accept online payments and require cash. If you are in need of cash and do not have your <keyword id="6356475" type="UNKNOWN" weightage="20" keywordseo="debit-card">debit card</keyword> with you, there is still a way how you can get cash. Banks like SBI and ICICI allow users to easily <keyword id="2336858" type="PERSON" weightage="20" keywordseo="withdraw-cash">withdraw cash</keyword> without a debit card. Customers can also use PhonePe to withdraw cash from any bank account. <keyword id="7436655" type="UNKNOWN" weightage="20" keywordseo="how-to-withdraw-cash">How to withdraw cash</keyword> from <keyword id="8887222" type="UNKNOWN" weightage="20" keywordseo="atm-without-debit-card">ATM without debit card</keyword> State Bank of India customers If you are a State Bank of India user, you can withdraw cash by following the below steps: 
 
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 <ul><li>Download and install the YONO app on your <a href="https://play.google.com/store/apps/details?id=com.sbi.lotusintouch&amp;hl=en_IN">Android</a> or <a href="https://apps.apple.com/in/app/yono-sbi-banking-and-lifestyle/id1231393474">iOS</a> device.</li><li>Enter your MPIN.</li><li>Open the app and enter your account details to login.</li><li>Now, open the app and click on ‘YONO Cash’.</li><li>Then, click on ‘ATM’.</li></ul>
 
 <div type="image" title="SBI 2" msid="74547716" hostid="261"></div>





 <ul><li>Now, enter the amount and click on ‘Next’.</li><li>Enter a six-digit YONO Cash Pin of your choice and click on ‘Next’.</li><li>Click on ‘I agree’ and then click on ‘Confirm’.</li></ul>You will receive a YONO Cash transaction number. You will also be able to see SBI ATMs that support YONO Cash once you have initiated the transaction. <ul><li>Go to an eligible SBI ATM and select ‘Card Less Transaction’.</li><li>Now, enter your six-digit YONO Cash transaction number and the six-digit PIN.</li></ul>ICICI Bank customers 
 
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 <ul><li>Download the iMobile app for <a href="https://play.google.com/store/apps/details?id=com.csam.icici.bank.imobile&amp;hl=en_IN">Android</a> and <a href="https://apps.apple.com/in/app/imobile-by-icici-bank/id375276006">iOS</a>.</li><li>Click on ‘Services’ at the bottom.</li><li>Now, click on ‘Cardless Cash Withdrawal’.</li><li>Now, enter the amount and a four-digit PIN of your choice.</li><li>Then, click on ‘Submit’.</li><li>Confirm the details and click on ‘Submit’.</li><li>You will receive an OTP.</li><li>Go to an ICICI Bank ATM and select ‘Cardless Cash Withdrawal’.</li><li>Then, enter your mobile number and four-digit PIN.</li></ul>PhonePe Customers of all banks can use the PhonePe app to withdraw cash from their account. For this, you can use the PhonePe ATM service. 
 <div type="image" title="PhonePe 1" msid="74547743" hostid="261"></div>





 <ul><li>Open the PhonePe app.</li><li>Click on ‘Stores’.</li><li>Now, click on ‘PhonePe ATM’.</li><li>Select a store and click on ‘Withdraw Cash’.</li></ul>
 
 <div type="image" title="PhonePe 2" msid="74547758" hostid="261"></div>





 <ul><li>Enter the amount and select the bank account from which you want to debit the money.</li><li>Now, click on ‘Pay to Withdraw’ and enter your PIN.</li><li>Then, go to the store and collect your cash.</li><li>Once you’ve collected the cash, click on ‘I’ve got cash’</li></ul>See also: <a href="https://www.businessinsider.in/business/startups/news/phonepe-logs-4000-crore-transactions-a-day-after-it-shifts-from-yes-bank-to-icici/articleshow/74545359.cms">Phonepe logs ₹4,000 crore transactions a day after it shifts from Yes Bank to ICICI</a> <a href="https://www.businessinsider.in/tech/apps/how-to/how-to-open-a-cryptocurrency-trading-account-in-india/articleshow/74490893.cms">How to open a cryptocurrency trading account in India</a>

How to withdraw cash from ATM without debit card

<a href="http://www.businessinsider.in/Flipkart-is-persuading-online-shoppers-to-pay-through-PhonePe/articleshow/53924458.cms" data-type="tilCustomLink" target="_blank">Mobile payments start-up PhonePe, which is owned by Flipkart, in partnership with Yes Bank launched unified payments interface (UPI) based payments app last week.</a> <keyword id="6357886" type="UNKNOWN" weightage="20" keywordseo="PhonePe">PhonePe</keyword> app users can send or receive money to and from friends and family, without exchanging the bank account details.The app also offers features such as bill-split, mobile recharge and bill payments. Myntra cashback users will be PhonePe users automatically. Reports suggest that PhonePe will also be integrated with <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> Money. So what is PhonePe and how will it work? PhonePe allows you to link bank accounts securely to your smartphone using National Payments Corporation of India’s encrypted software. Once you get linked, you can transfer money or merchant payments by just entering a 4-6 digit MPIN. There is no OTP(One time password) required. If PhonePe works out well, it may help Flipkart reduce the number of cash transactions, while lowering transaction costs and making its supply chain more efficient for all its businesses. This is mainly why every e-commerce company wants to join the <keyword id="6358921" type="COMPANY" weightage="20" keywordseo="UPI">UPI</keyword> bandwagon. The National Payments Corporation of India (NPCI) started work on this technology in February 2015 and launched it this August. Wait, but what is UPI? <a href="http://www.businessinsider.com/india-devises-national-mobile-payments-ecosystem-2016-4?IR=T" data-type="tilCustomLink" target="_blank">United Payments Interface or UPI</a> was launched with much enthusiasm recently and 21 banks have already gone live with their offerings. UPI is a payments system simply- just like a demand draft, cheque, your debit or credit card, or a mobile wallet. It is based on the IMPS (Immediate Payment Service) system that you use with your netbanking app, except this is available 24x7, even on weekends and holidays. <a href="http://www.businessinsider.in/UPI-is-forcing-Paytm-MobiKwik-to-diversify-business/articleshow/52398329.cms" data-type="tilCustomLink">READ ALSO- UPI is forcing Paytm, MobiKwik to diversify business</a> Just like an ATM service, it is interoperable between banks whether Yes bank, ICICI bank or Axis Bank. Banks like SBI, Induslnd and HDFC are supposed to get on board by November UPI is only available for Andriod users as of now. You have to download the UPI app from Google Playstore, verify your phone number, and then link your bank account to the mobile app. After confirming your bank details, you can start using the app to send or receive money easily.After verification, you can send or receive funds up to Rs 1 lakh to or from any person or establishment after a request from the other person of the transaction who must also have a unique virtual address or ID. Currently, there aren't too many use cases for UPI yet but you can be expect to use it to do person to person transfers, directly to a bank account. Instances like paying your rent, and payment to shops that sell high value items, payments via bank transfers; will get more accessible. With Myntra adopting this technology, you can easily pay your COD orders via PhonePe app in person. Reports suggest that other Indian E-commerce giants such as Amazon, Snapdeal and PayTM are also expected to integrate UPI on their platform in the coming months. This can be the simple One Time Password to the inclusion we have been craving in the fin-tech space.

'Myntra cashback users are now on PhonePe'- Why every e-commerce company wants a bite of UPI.

Mumbai, Mar 7 () Fintech startup PayNearby, which has a tie-up with Yes Bank to offers cardless and pinless ATM services to customers, on Saturday said its systems are running without any disruptions.The statement comes in the wake of disruption of Unified Payment Interface (UPI) offered by fintech players after Yes Bank was put under moratorium by the RBI.The Reserve Bank of India has imposed a moratorium on the bank and restricted withdrawals to Rs 50,000 per depositor till April 3.Following the restriction, the net banking facility of the bank was affected and customers were not able to log in."At PayNearby, its business as usual. Our systems are up and running without any disruption. We are a strong technology backed fintech company and have multiple banking partners," the company said in a statement.The company said it has worked tirelessly to ensure that customers across the country get served without any disruption."Yes Bank has been a very valuable partner in our journey and we are confident that they will soon bounce back and we will be able to continue working together again," the statement said.PayNearby Bank, along with Yes Bank provide Aadhaar-enabled cardless and pinless ATM service by which customers can deposit or withdraw money at retailers' place.On Friday morning, PhonePe, another digital payment platforms, which depends on Yes Bank to process its transactions, said it had faced challenges in its operations but services were restored later.Paytm Payments Bank Ltd (PPBL) also restricted transaction settlements, including those done through UPI platform, into cash-strapped Yes Bank's accounts. HV MKJ

Yes Bank crisis: PayNearby says functioning 'without any disruption'

New Delhi, June 16 (IANS) Mobile payments in India initiated by payment apps comprising account-to-account transfers and payments made from stored-value accounts rose 163 per cent to $287 billion in 2019, said a report on Tuesday. By comparison, point-of-sale transactions completed using debit and credit cards, including online and in apps, rose 24 per cent to $204 billion, according to the S&amp;P Global Market Intelligence's 2020 India Mobile Payments Market Report. Card and mobile payments as a percentage of India's GDP rose to 20 per cent in the quarter ended December 31, 2019, the results showed. In fact, card and mobile payments exceeded ATM withdrawals for the first time in 2019, according to the report. "High growth rates in cashless payments seen in recent years are unlikely to repeat amid an economic slowdown due to the novel coronavirus pandemic," Sampath Sharma Nariyanuri, Fintech Analyst at S&amp;P Global Market Intelligence, said in a statement. "However, we expect mobile payments to be more resilient and will gain a bigger lead over card payments, as their uptake will accelerate due to ongoing social distancing measures and concerns over usage of cash and plastic." S&amp;P Global Market Intelligence estimates that card purchases and Unified Payments Interface (UPI) mobile payments represented only 21 per cent of $781 billion in in-store transactions in 2019. Google Pay and PhonePe led UPI payment apps as the two apps handled over seven billion transactions in total, representing more than two-thirds of UPI transactions in 2019. As banks are expected to reduce their exposure to unsecured lending amid the ongoing pandemic, payment apps will have an opportunity to play a mainstream role in providing loans and insurance. Google and Amazon are already offering a far greater breadth of payments in India than in other large markets such as the US, Germany, the UK and Japan, said the report, adding that with the expected entry of Facebook's WhatsApp, US technology companies will extend their dominance in India. --IANS gb/na

Mobile payments in India jumped 163% in 2019: Report

New Delhi, Apr 14 () The nationwide lockdown has benefited digital payment platforms as 42 per cent Indians have increased the use of digital means for payments in the last three weeks, a report said. Buying essentials and mobile recharges are top use cases for digital payments, according to a survey of 42,000 respondents done by consultancy firm Local Circles. Paytm and Google Pay are among the top digital payment apps being used by consumers, it said. Many retail stores and local general stores have been reporting a major rush and spike in order because of the lockdown and as people purchase and stock essentials for use during this period, it said. E-commerce platforms, especially the ones delivering groceries have also seen a massive spike in orders for essential goods in the last three weeks with some reporting five times demand. For both retail stores and e-commerce orders, what is common is that many of the consumers are now making their payments via digital payment mechanisms and taking contactless delivery of goods where possible. The National Payments Corporation of India (NPCI) has been urging Indians to use more digital payment methods, so that people do not step out even to go to the ATM, reduce social contact and curb the spread of Covid-19. "When consumers were asked what digital payment app have they been using the most in the last three weeks, since the coronavirus outbreak, 33 per cent said Paytm, 14 per cent Google Pay, 4 per cent PhonePe, 10 per cent Amazon Pay, 6 per cent BHIM while 33 per cent used other apps," it said. The lockdown has also brought many first-time users who were not very tech savvy closer to the digital payments' ecosystem as they had a need to make digital payments for essentials, it said. When it came to use debit/credit cards in the last three weeks, 54 per cent of respondents said they have been using Visa, while 30 per cent Mastercard and 12 per cent Rupay card, it added. DP ANSANS

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How to withdraw cash from PhonePe ATM

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Mobile payments in India jumped 163% in 2019: Report

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