Hitachi Payment Services recently announced the launch of India’s first Android-Based Cash Recycling Machine, that functions as a Digital Banking Unit, to provide one-stop services in a modern digital banking environment. The Android-Based Cash Recycling Machine, HPDx-BU01, marks a significant step towards enhancing customer convenience and experience while driving operational and cost efficiency for banks. The Android-Based Cash Recycling Machine was showcased at GFF in association with National Payments Corporation of India (NPCI).
Combining benefits of the traditional Cash Recycling Machine (CRM) with the agility and flexibility of the Android platform, its comprehensive suite of features can be tailored to various banking needs. Utilizing an advanced technology platform, it allows banks to create a customised digital banking environment, offering a range of banking and non-banking services as per business needs and local market requirements. Some of these services include QR based UPI cash withdrawal and cash deposit, account opening, credit card issuance, personal loans, insurance, MSME loans as well FASTag application and recharge.
Among these services, a functionality being introduced in India for the first time is the QR-based UPI cash deposit. It offers customers the convenience of 24 X 7 card-less cash deposits in their own bank account as well as other’s bank account. The innovative solution significantly enhances customer security and places more control in the hands of the customer by eliminating the need for physical cards and at the same time provides an enriched user interface through intuitive touch screens.
Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, stated, “We are thrilled to launch India’s first Android-Based Cash Recycling Machine, which represents a significant shift in the way banking services would be delivered. Ushering in a new era of banking technology, it will play a pivotal role in digitalizing banking services and expanding access to such services across India. As we continue to bridge the gap between traditional and digital banking, we believe that the Android-Based Cash Recycling Machine will transform self-service banking touchpoints into essential hubs for financial engagement, driving financial inclusion and allowing banks to extend their reach and serve customers more effectively, regardless of their location.”
NPCI spokesperson said, “We are happy to see innovative banking solutions that not only meet customer needs, but also keep pace with the changing digital environment. By integrating comprehensive banking services onto a single platform, the Android-based Cash Recycling Machine, that functions as a Digital Banking Unit, can make it easier for banks to deliver convenient and secure digital services to their customers, even in remote areas. We believe that UPI based cash withdrawal and deposit functionality, and Android based Cash Recycling Machines can further boost the adoption of banking services and contribute significantly to the growth of ATM channels in the country.”
Hitachi Payment Services has been at the forefront of bringing innovative offerings in the payments domain and in the recent past has introduced the UPI ATM on Android platform and the Upgradable ATM. A pioneer in the Indian payment industry, Hitachi Payment Services offers a comprehensive range of payment solutions including ATM Services, Cash Recycling Machines, White Label ATMs, POS Solutions, Payment Gateway Solutions, Toll & Transit Solutions, Financial Inclusion Solutions as well as innovative offerings such as UPI Solutions, SoftPOS, Value Added Services, AI & ML based solutions and next-gen mobile based merchant platform. The company is committed to delivering exceptional customer experiences and driving financial inclusion across India.
