Fino Offers Cash@UPI

The Bank aims to leverage the growing adoption of UPI across Bharat to enhance access to cash

Tejas Maniar, Chief Digital & Liabilities Officer, Fino Payments Bank

FinTech BizNews Service 

Mumbai, 12 September 2026: Fino Payments Bank Limited (“Fino”, “The Bank”) has announced the launch of Cash@UPI services, a new age assisted banking solution powered by the National Payments Corporation of India (NPCI), designed to enable customers across Bharat access cash conveniently using UPI. 

Cash@UPI enables customers to withdraw cash seamlessly at participating merchant outlets using UPI, without the need for biometric authentication devices or specialized hardware. By leveraging the widespread adoption of UPI, these services significantly enhance merchant participation and strengthens customers’ access to cash, particularly across rural and semi-urban markets.

The launch marks another important step in the Bank's commitment towards advancing financial inclusion and expanding access to convenient banking services across unbanked and under-banked areas through its extensive merchant network and technology-led distribution model.

The solution, while providing convenience to customers, creates a new revenue stream for the Bank and enhanced earning opportunities for merchants.

Commenting on the launch, Mr. Tejas Maniar, Chief Digital & Liabilities Officer, Fino Payments Bank said: "As digital adoption increasing across India, we at Fino aim to engage with digitally savvy customers through Cash@UPI solution, an offering that makes banking more accessible, convenient, and inclusive. In FY26, we facilitated Micro ATM and AePS transactions worth Rs 31,800 crore. Cash@UPI is expected to enhance this pie as the Bank taps the emerging smartphone using and UPI-active customers from Bharat. The solution further strengthens our phygital banking proposition and reinforces our commitment to financial inclusion at scale as we prepare for our next phase of growth."

Key Benefits of Cash@UPI:

• Enhanced Customer Convenience: Easy and seamless access to cash using UPI at nearby merchant outlets.
• Additional Merchant Monetization: Creates a new transaction-led revenue opportunity for merchants.
• Strengthened Last-Mile Banking: Expands assisted banking services and improves cash accessibility in underserved geographies.
• Hardware-Free Acceptance: Unlike Aadhaar-enabled cash withdrawal solutions, Cash@UPI does not require biometric devices or additional hardware, enabling faster and wider merchant adoption.
• Scalable Digital Infrastructure: Leverages India's robust UPI ecosystem to deliver secure and efficient cash access.
• Complements Micro-ATM and Aadhaar-enabled Payment System (AePS) services: Provides customers with one more convenient option to withdraw cash.

 With access to a broader ecosystem of over 20 lakh merchant touchpoints and presence across 98% of India's PIN code, the new solution enhances Fino’s multi-product, multi-location, and multi-platform value proposition.