With the aim of supporting India’s digital payments as well as to boost the infrastructure of the cash-driven economy, PhonePe has launched a Unified Payments Interface-based (UPI) PhonePe ATM service.

However, with a wide network of merchants coupled with the popularity of UPI, the new service might help address this shortage of ATMs in the country.

As of now, any merchant associated with the company can convert its business into an ATM by signing up on the PhonePe Business application.

Similar to UPI ATMs, Chandigarh-based PayMart, which was founded by Amit Narang in 2015, is also working to solve the challenge of the shortage of ATMs in India.

PayMart app, which is yet to be launched, is expected to allow the use of ATM cards or UPI for cash withdrawals through brick-and-mortar stores. | To read full story, visit https://startuparound.com/read/1579748407.8860836/PhonePe-Launches-UPI-ATM-Service-Through-Merchant-Network?ref=audio_experience