If your ATM card is lost somewhere or you forget the PIN of the ATM card, then now you do not have to worry. Now without ATM card and PIN, you can withdraw money from ATM. Private sector YES Bank has tied up with the start-up Nearby technology of Fintech region. Under this agreement, the Nearby tech will provide a bank based ATM that will not require a card or PIN.
According to information received from YES Bank, customers will be able to deposit and withdraw money to retailers. The bank said that the PenierBuy mobile app will be used on a smartphone.
Yes Bank and Nearby have worked closely with the National Payments Corporation of India to start this service.
This network will have 40,000 touch points. Using the Aadhaar number and fingerprint, the customer will be able to withdraw cash from them or make any other transaction. Nearby has tied up with Retailers Association of India to make awareness of the Aadhar services and popularize it. Under this, customers will be made aware and this service will be provided to the remote places of the country.
Founder of Nearby Technologies Anand Kumar Bajaj said, “With this service, our aim is to provide a facility for payment. Yes Bank’s Chief Digital Officer Ritesh Pai said that through this alliance, we want to fulfill the dream of a less cash-rich economy.