Payment solutions provider OmniCard has rolled out a facility that supports cash withdrawal from any ATM through its e-wallet.
OmniCard is said to have become the first Reserve Bank of India (RBI) licenced PPI (prepaid instruments) to provide cash withdrawal service using a RuPay-powered card from any ATMs throughout the country.
The company has launched the new service following the approval by the apex bank for non-bank licensed entities to offer cash withdrawals through digital wallet.
OmniCard stated: “OmniCard users can withdraw cash from any ATM at their convenience with full security from frauds like card theft, and card cloning, as the withdrawal facility comes with high safety and secure features and protects the user from exposing their money and bank account details.”
With the support of OmniCard, users can create a Rupay-powered digital card within seconds and order their physical personalised card besides using UPI QR codes across merchants.
Users can also create multiple cards for family members, in addition to tracking payments and assessing expenses.
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OmniCard co-founder and CEO Sanjeev Pandey noted that the new facility will serve as an alternative platform for users to keep their bank account safe where savings are stored from cyber fraud using digital wallets linked with Rupay Card and UPI.
“Cash withdrawal is an attempt further to enable customer needs in case of his unforeseen spending requirements,” Pandey noted.