It’s a good facility right in your neighbourhood for those who want to withdraw cash, but find bank ATMs too far to reach easily. Digital payments platform PhonePe has launched a unique feature called ‘PhonePe ATM’ on its platform that will help users in need of cash to get instant money from shops or merchants offering this facility. Needless to say, this facility will come in handy not just for older people but also women and children who find it difficult to leave the neighbourhood. It will put cash in the hands of the needy within no time at all.
How to get money from PhonePe ATM?
– A customer in need of cash can simply open the PhonePe app, go to the ‘Stores’ tab
– Click on the ‘PhonePe ATM’ icon to locate nearby shops offering this facility
– Currently, a user can avail Rs 1,000 a day from the merchant via this pilot feature, launched in the Delhi-NCR region to begin with.
– Go to the shop, click on the ‘Withdraw’ button and transfer the required amount to the merchant via the PhonePe app.
– Once the amount is transferred, the merchant will give the customer the cash equal to the amount transferred
Salient Features of PhonePe ATM
– There will not be any charge for customers or merchants for availing this service.
– The withdrawal limit for customers will be the same as the limit set by their respective banks.
Benefit of PhonePe ATM
The move will enable neighbourhood stores to act as ATMs for the customers who cannot locate bank ATMs or reach an ATM out of cash.
“The PhonePe ATM allows customers to withdraw cash without any hassle through our trusted merchant partners. It also helps merchants avoid the hassle of storing cash and making multiple trips to the bank branch to deposit their extra cash,” said Vivek Lohcheb, Head of Offline Business Development, PhonePe.
Recently, in a bid to make it easier for users to have a conversation on the platform, PhonePe had launched a new chat feature on the app. Through this feature, users can now request money or confirm the receipt of a payment without having the need of any other messaging app.
“PhonePe chat makes it really easy for our users to send money to their contacts while having a conversation. A user’s transaction history on the PhonePe app is displayed in the chat flow, making it a highly engaging experience,” Rahul Chari, Co-Founder and CTO, PhonePe, said in a statement.
This also enables users to keep track of their transactions along with the conversation history.