Phone Pay has introduced new PhonePe ATM feature, in which customer send money to merchant using PhonePe and take same cash amount from the merchant, according to PhonePe data currently 75,000 merchants have signed up for this service in Delhi/NCR, as this feature is live in Delhi/NCR currently but company has planned to expand depending on customer response.
PhonePe ATM Sign Up and Service Details
- Any Merchant can sign up for ATM service on Phonepe
- Enable or Disable the service anytime according to need
- Nearby Stores will act as ATM for users
- Their is no charges for customers and merchants to use this facility
- Maximum Withdrawal limit Rs 1000 per day
Currently this feature is introduced for small transaction only, but if this service is successful the company can increase the transaction limit.