OmniCard launches cash withdrawal facility across all ATMs via e-wallet 

The move came in after RBI permitted the non-bank licensed entities to enable cash withdrawals from the digital wallet.

Published: 12th June 2022 12:25 PM  |   Last Updated: 12th June 2022 12:25 PM   |  A+A-

ATM

Image for representational purpose only. (File | Photo)

By PTI

NEW DELHI: Payment solution provider OmniCard on Sunday said it has launched cash withdrawal facility from any ATM through their e-wallet.

The company claimed that it has recently become the first RBI-licensed PPI (prepaid instruments) to launch cash withdrawal using a RuPay-powered card from any ATMs across the country.

The move came in after RBI permitted the non-bank licensed entities to enable cash withdrawals from the digital wallet.

"OmniCard users can withdraw cash from any ATM at their convenience with full security from frauds like card theft, and card cloning, as the withdrawal facility comes with high safety and security features and protects the user from exposing their money and bank account details," the company said in a statement.

OmniCard provides users a complete mobile-first journey where the users can create a Rupay-powered digital card in a few seconds, order their physical personalised card and pay using UPI QR codes across merchants.

"Users can create multiple cards for family members, track payments, analyse expenses and stay in control of all family spending," it added.

Sanjeev Pandey, OmniCard Co-Founder and CEO said that they provide an alternative platform for users to keep their bank account safe where savings are stored from cyber frauds using digital wallets linked with Rupay Card and UPI.

"Cash withdrawal is an attempt further to enable customer needs in case of his unforeseen spending requirements," he said.

Abhishek Saxena, Co-Founder and COO said that soon after RBI's mandate, the company started work with the National Payments Corporation of India (NPCI) team to enable the facility.

"Our vision is to empower every household in the country with OmniCard for their daily spends while providing a safe, secure and rewarding experience," he added.

Run by Noida-based Eroute Technologies, Omnicard is a RuPay-powered prepaid card with a mobile app where the users can spend using swipe, scan, tap and pay online, and avail of in-app offers from partner brands and get rewarded on every spends.



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