Payment solution provider, OmniCard has announced that it became the 1st RBI licensed PPI (prepaid payment instrument) 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 wallets.
OmniCard users can withdraw cash from any ATM at their convenience with full security from frauds like card theft, card cloning, and PIN skimming as the withdrawal facility comes with high safety & secure features and protects the user from exposing their money and bank account details. The company worked with the National Payments Corporation of India (NPCI) team to enable the facility.
- 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, avail in-app offers from partner brands and get rewarded on every spends.
Important takeaways for all competitive exams:
- Co-Founder and Chief Executive Officer (CEO) of OmniCard: Sanjeev Pandey.