Fintech startup Nearby Technologies has tied up with Yes Bank to provide Aadhaar- enabled cardless and pinless ATM service by which customers can deposit or withdraw money at retailers’ place.
Using the PayNEARBY mobile application on a smart phone, a retailer can become an Aadhaar ATM/Aadhaar Bank branch for cash withdrawals and deposits by a customer, Yes Bank said in a release.
Yes Bank and Nearby worked closely with the National Payments Corporation of India (NPCI) to launch this service.
PayNEARBY’s Aadhaar ATM will be available through Yes Bank and the business correspondent agent network comprising 40,000 touch points.
By using the Aadhaar number and finger print, a customer can do cash withdrawal or any other transactions from these locations.