Current Affairs   »   Banking Current Affairs 2022   »   OmniCard becomes 1st RBI licensed PPI...

OmniCard becomes 1st RBI licensed PPI to launch cash withdrawal across all ATMs PAN India

OmniCard becomes 1st RBI licensed PPI to launch cash withdrawal across all ATMs PAN India_50.1

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.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

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.

Key features:

  • 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.

Find More Banking News Here

OmniCard becomes 1st RBI licensed PPI to launch cash withdrawal across all ATMs PAN India_60.1OmniCard becomes 1st RBI licensed PPI to launch cash withdrawal across all ATMs PAN India_70.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *