By Gloria Mathias
August 30, 2024
- Android based Cash recycling machine
- Cash Management Business
- Cash Recycling
Hitachi Payment Services, India’s payments and commerce solutions provider, has announced the launch of India’s Android-Based Cash Recycling Machine. This machine functions as a digital banking unit to provide one-stop services in a modern digital banking environment.
The Android-based cash recycling machine, HPDx-BU01, will enhance customer convenience and experience while driving operational and cost efficiency for banks. It was showcased at GFF in association with the National Payments Corporation of India (NPCI).
Combining the benefits of the traditional Cash Recycling Machine (CRM) with the agility and flexibility of the Android platform, its comprehensive suite of features can be tailored to various banking needs. Utilizing an advanced technology platform allows banks to create a customised digital banking environment, offering a range of banking and non-banking services as per business needs and local market requirements.
Sumil Vikamsey, Managing Director & Chief Executive Officer of Cash Business, Hitachi Payment Services, stated, “We are thrilled to launch India’s first Android-based cash recycling machine, which represents a significant shift in the way banking services would be delivered. Ushering in a new era of banking technology, it will play a pivotal role in digitalizing banking services and expanding access to such services across India. As we continue to bridge the gap between traditional and digital banking, we believe that the Android-Based Cash Recycling Machine will transform self-service banking touchpoints into essential hubs for financial engagement, driving financial inclusion and allowing banks to extend their reach and serve customers more effectively, regardless of their location.”
NPCI spokesperson said, “We are happy to see innovative banking solutions that not only meet customer needs but also keep pace with the changing digital environment. By integrating comprehensive banking services onto a single platform, the Android-based Cash Recycling Machine, which functions as a Digital Banking Unit, can make it easier for banks to deliver convenient and secure digital services to their customers, even in remote areas. We believe that UPI-based cash withdrawal and deposit functionality and Android-based cash recycling machines can further boost the adoption of banking services and contribute significantly to the growth of ATM channels in the country.”
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