RNFI Services Ltd has partnered with Jio Payments Bank to roll out a cardless cash withdrawal service using UPI QR codes across India, offering a simpler way for users to access cash without debit cards or ATMs.
The service works through RNFI’s network of business correspondent (BC) outlets. Customers can visit a nearby outlet, scan a UPI QR code using any UPI app, enter the withdrawal amount, and confirm the transaction with their UPI PIN. Once the payment is authorised, the retailer hands over the cash, completing the process within minutes.
This initiative aims to connect digital payments with physical cash access, especially in rural and semi-urban regions where ATM availability is limited. By using the widely adopted UPI platform, the service ensures that users can withdraw cash easily using familiar apps without needing cards or additional tools.
The companies said the system is designed to be quick, secure, and user-friendly, reducing dependence on traditional banking infrastructure. It also removes the need for biometric authentication, making the process more convenient for users who may face issues with fingerprint-based systems.
To maintain safety and control, transaction limits have been set. Users can withdraw up to ₹5,000 per transaction, with a daily limit of ₹10,000 and a monthly cap of ₹50,000. These limits are intended to balance accessibility with security.
RNFI highlighted that despite the growth of digital payments, cash remains an important part of everyday transactions in many parts of India. This service is expected to improve last-mile financial access while also boosting activity across RNFI’s merchant network.
The feature, which was tested in select areas earlier, is now being expanded nationwide. Experts believe such innovations will play a key role in strengthening financial inclusion, allowing more people to access banking services easily.
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