When you are in an area where there are no ATMs and you need cash, what do you do? Virtual ATM: Nowadays payment through Unified Payment Interface (UPI) has become the most popular option in the country. This is why most people no longer keep cash. They just require a smartphone and internet connectivity to pay online. Many people do not have debit and credit cards due to mobile payment services as UPI is eliminating all these requirements.
Debit or credit card is required while withdrawing money from ATM or while paying a large amount. When you are in an area where there are no ATMs and you need cash, what do you do? In such a situation, most people think that they would have been able to withdraw cash from a shopkeeper through mobile even without ATM. Realizing this need of customers, a fintech company is offering virtual ATM service. Pemart India is providing a service where you can withdraw cash from any shopkeeper using your phone.
Pemart India says that now you can withdraw money from any shopkeeper from your mobile. The Chandigarh-based Fintech company is providing virtual, cardless and hardware-free cash withdrawal services. The best thing about this service is that you do not need to go to ATM or remember your card PIN to withdraw cash.
To withdraw money using this virtual ATM, you just need a smartphone, a mobile banking application and an internet connection. First of all, you have to use your mobile banking app to withdraw money. The mobile number of the mobile banking app should be registered with the bank. After receiving the request, the bank will generate an OTP and will be sent to your registered mobile number. To extract the cash, you have to show the OTP to the registered buyer in Pemart. He will give you cash.
