Hitachi Payment Services, a frontrunner in payment and commerce solutions in India, has introduced the country’s inaugural Upgradable ATM, capable of future enhancements into a Cash Recycling Machine (CRM). These innovative machines, crafted under the Make in India initiative, furnish banks with heightened operational flexibility and efficiency. With its current oversight of over 76,000 ATMs and CRMs out of India’s total of 264,000, Hitachi envisions a market potential of 100,000 upgradable units within the next eight years.
The Upgradable ATM enables banks to initially provide cash withdrawal services, with the option to incorporate cash deposit functionalities in non-branch locations as necessitated. This capability aligns seamlessly with the recent RBI monetary policy facilitating UPI for cash deposits. Not only does this solution safeguard banks’ investments, but it also empowers them to respond to evolving market demands sans the necessity for complete machine replacement.
Sumil Vikamsey, Managing Director & CEO – Cash Business at Hitachi Payment Services, underscores the product’s groundbreaking impact on the banking sector, enhancing customer experiences and operational efficiency. Moreover, in its commitment to augmenting banking accessibility, particularly in underprivileged areas, Hitachi introduced a distinctive UPI ATM on the Android platform for cardless withdrawals in September 2023.
Hitachi Payment Services persists in spearheading the industry with a comprehensive array of payment solutions aimed at fostering financial inclusion throughout India.
