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Laxit Rana
•

Repute • 11m

Why Banks are preferring UPI for ATM cash withdrawal instead of traditional Cards No Physical Card Production: Issuing debit cards costs banks money (around Rs 150-200 per card for production, shipping, and activation). UPI eliminates this by working entirely through mobile apps, so there's no need for physical cards. No Card Maintenance: Over the lifetime of a debit card (typically 5-7 years), banks spend additional money on maintaining the card's infrastructure, such as replacing lost cards or supporting features like NFC. UPI transactions only require mobile apps, drastically reducing these operational costs. Cheaper ATM Infrastructure: With UPI-enabled ATMs, there's no need for expensive card readers and PIN pads. Instead, you just need a QR code scanner, which reduces the cost of building and maintaining ATMs.

6 Replies

Replies (6)

Anonymous 1

Hey I am on Medial • 11m

Upi is super convenient. That’s all i care about 😂🫱🏽‍🫲🏾

1 Reply

Rishu
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Medial • 11m

But do you think debit cards completely dying off would be a good thing? Banks will do whatever to increase margins.

1 Reply

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