Provide cardless cash withdrawal at ATMS, says RBI

MUMBAI: The Reserve Bank on Thursday asked banks to provide the option of Interoperable Card-less Cash Withdrawal (ICCW) at their ATMS, a move aimed at curbing frauds like skimming, card cloning and device tampering.

Currently, cardless cash withdrawal through ATMS is offered by a few banks for their customers at their own ATMS (also known as on-us basis).

“All banks, ATM networks and WLAOS (White Label ATM Operators) may provide the option of ICCW at their ATMS,” the central bank said in a circular.

It further said the National Payments Corporation of India (NPCI) has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.

While UPI would be used for customer authorisation in such transactions, settlement would be through the National Financial Switch (NFS) / ATM networks.

“The on-us/off-us ICCW transactions shall be processed without levy of any charges other than those prescribed (on Interchange Fee and Customer Charges),” the RBI added.