Hitachi Payment Services Introduces India's First Upgradeable ATM

Hitachi Payment Services made a big announcement that they've launched the country's first Upgradable ATM. This Upgradable ATM isn't just any ordinary machine - it can transform into a high-performance Cash Recycling Machine (CRM) whenever needed. Proudly made under the Make in India initiative, these new Upgradable ATMs offer banks more flexibility and efficiency.

Hitachi Payment Services is already responsible for managing over 76,000 of India's total 264,000 ATMs/CRMs currently in operation. They foresee a potential market of around 100,000 Upgradable ATMs in the next 8 years. What's exciting about these Upgradable ATMs is that they allow banks to safeguard their investment and expand their services, like offering cash deposit facilities at offsite locations, based on their business needs and local market conditions.

This innovation eliminates the need for costly replacements and lengthy installation processes, making it easier for banks to adapt to evolving market requirements. Plus, it's aligned with the recent monetary policy announcement by the Reserve Bank of India (RBI) to enable UPI for cash deposit facilities.

Sumil Vikamsey, Managing Director & CEO - Cash Business at Hitachi Payment Services, expressed their commitment to revolutionizing banking services, improving the banking experience for customers, and streamlining operations for banks. The Upgradable ATM represents a significant leap forward for the Indian ATM industry, setting new standards in banking automation.

With this launch, Hitachi Payment Services aims to enhance access to a wide range of banking services, especially in areas with low banking penetration, thus promoting financial inclusion. In September 2023, they introduced the first-of-its-kind UPI ATM on the Android platform for card-less cash withdrawals.

Hitachi Payment Services isn't new to innovation. They've been a pioneer in the payment industry in India, offering a comprehensive range of payment solutions, including ATM Services, Cash Recycling Machines, White Label ATMs, POS Solutions, Payment Gateway Solutions, Toll & Transit Solutions, as well as cutting-edge offerings like UPI Solutions, SoftPOS, Value Added Services, AI & ML based solutions, next-gen mobile-based merchant platforms, and UPI ATMs on the Android platform. Their commitment lies in delivering exceptional customer experiences and driving financial inclusion across India.