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As per the latest directive by Reserve bank of India (RBI, the deadline to comply with storing of data relating to payment systems within India to expire on October 15. More than 15 payment firms including Visa and Mastercard will also fall in line if these norms are not followed. But, these directives are still not followed and if RBI do not make any changes in these rules then buyers may face difficulties during this festive season.
AGS Transact Technologies, Mastercard partner to Introduce first-ever ‘contactless’ cash withdrawals on ATMs in India
Enabled through Masterpass & AGS QRCash, Mastercard cardholders can now withdraw cash from ATMs by just scanning a QR code using a smartphone. February 09, 2021 / 08:32 AM IST
AGS Transact Technologies (AGSTTL) has partnered with Mastercard to provide a pan India ‘contactless’ cash withdrawal experience at ATMs. In a first, Mastercard cardholders will be able to withdraw cash by scanning a QR code displayed on the ATM screen of all participating Banks. The partnership aims to provide a more secure banking experience to customers in India.
During these unprecedented times, there is a need for contact free cash withdrawal.