Back

Indian Banks Are Shutting Down ATM Machines Because of UPI and Digital Payments 4000 ATM Machines Closed in Last 1 Year Cash Circulation in India is Still At All Time Record High of Over ₹34.70 Lakh Crore India Has Only 15 ATMs For 1 Lakh People

Anonymous

Anonymous 5

Hey I am on Medial • 6m

Makes sense. UPI and digital payments have made things so convenient that fewer ATMs are needed. It's good to see banks adapting to tech trends because I haven't used an ATM for 3 years now straight and I have been around here and there in India and UPI just works. everywhere.

0 replies

More like this

Recommendations from Medial

Image Description
Image Description

BigLoot IN

BigLoot.in - Where S... • 6m

Indian Banks Are Shutting Down ATM Machines Because of UPI and Digital Payments 4000 ATM Machines Closed in Last 1 Year Cash Circulation in India is Still At All Time Record High of Over ₹34.70 Lakh Crore India Has Only 15 ATMs For 1 Lakh People

5 replies4 likes
Image Description
Image Description

Laxit Rana

 • 

Repute • 7m

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 workin

See More
6 replies12 likes
3
Image Description
Image Description

Dinakar

Generalist • 11m

A story on ATMs - Total number of ATMs India had at the end of fy23 was 1.31 lakhs. These are standalone ATMs that aren't inside a bank's branch. This figure is about 1.5% more than last year. This tiny growth isn't driven by banks, but instead by

See More
5 replies8 likes
1
Image Description
Image Description

Laxit Rana

 • 

Repute • 7m

[PART -1 ]UPI is set to phase out debit card, and we will be here witnessing it :- - UPI is to introduce a new feature "UPI Circle" that allows users to delegate payment authority to family members or friends. So it basically enables primary account

See More
2 replies9 likes
Image Description
Image Description

OMPRAKASH SINGH

Founder of Writo Edu... • 4m

How ATMs Make Money – Let's Find Out! 🤑💸 1. Transaction Fees: When you withdraw money from an ATM, you are charged a certain fee. This fee goes to the ATM operator and is a significant source of their income. 2. Balance Inquiry Fees: Checking yo

See More
6 replies5 likes
Image Description
Image Description

Vedant SD

Finance Geek | Conte... • 7m

The Rise of Digital Payments in India India's digital payments landscape has witnessed a remarkable transformation in recent years, driven by government initiatives, technological advancements, and changing consumer behavior. The country's large popu

See More
7 replies9 likes
2

gray man

I'm just a normal gu... • 9d

The Reserve Bank of India has directed banks to ensure that ATMs dispense ₹100 and ₹200 notes. This move aims to make these widely used denominations more accessible to the public.

0 replies7 likes

Mahendra Lochhab

Content creator • 11m

The Reserve Bank of India (RBI) and NPCI International Payments (NIPL) plan to extend the Unified Payments Interface (UPI) to 20 countries by the FY29.

0 replies6 likes
1
Image Description

Deep Makhasana

Hey I am on Medial • 1m

Tired of sharing your QR Code or UPI ID manually? Generate a secure UPI payment link in just a few clicks and start receiving payments instantly. Works seamlessly with Google Pay, PhonePe, Paytm, and all UPI apps. https://upi.liveyst.com/

2 replies15 likes
1
Image Description
Image Description

Yash

Trying to make thing... • 8m

Online Payments and UPI is So Successful in India that Vendors asks us to Please Give some Cash also ...

12 replies5 likes

Download the medial app to read full posts, comements and news.