Hitachi Payment Services has launched India’s first Android-based Cash Recycling Machine (CRM), which also doubles as a Digital Banking Unit. The new CRM model, HPDx-BU01, was showcased at the Global Fintech Festival (GFF), in collaboration with the National Payments Corporation of India (NPCI), marking a significant leap in digital banking innovation.
Built on an advanced Android platform, the machine seamlessly integrates the traditional functions of cash recycling with an array of modern banking and non-banking services, catering to both urban and remote banking needs. The machine offers features such as QR-based United Payments Interface (UPI) cash withdrawal and deposit, account opening, credit card issuance and loan services. Notably, it introduces the country’s first-ever QR-based UPI cash deposit service, allowing customers to make card-less deposits into their own or others’ accounts anytime, enhancing convenience as well as security.
Sumil Vikamsey, Managing Director (MD) and Chief Executive Officer (CEO) – Cash Business, Hitachi Payment Services, highlighted its potential to transform self-service banking in India. He remarked that the machine would help to bridge the gap between traditional and digital banking, fostering financial inclusion by providing easier access to banking services, even in remote locations.
The NPCI also lauded the innovation, emphasising its role in making banking more secure and accessible. They noted that the new CRM could accelerate the adoption of banking services and contribute to the growth of ATM channels across India.
