PhonePe ATM available in the latest PhonePe app
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https://phonepe.com/en/inde...ml
PhonePe ATM available in the latest PhonePe app, withdraw cash from nearby supported stores shown.
How To Use PhonePe ATM
- Once you enable this service, nearby customers will be able to see your store at phonepay ATM, In STORES Section at Phonepay App
- Customers can walk In and can ask you for the amount of they need.
- Once you confirm the amount they can click on WITHDRAW CASH button on your store page.
- They send you money through UPI and you can give Cash.
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https://www.desidime.com/discussions/phonepe-atm?page=1#post_6501856
Came about 2-3 weeks ago in phonepe app in Delhi,merchant gets the benefit of converting their cash to bank deposit without incurring any extra charges(there are charges for large cash deposits in banks) plus they save travel expenses,security during travel & time taken.
https://www.desidime.com/discussions/phonepe-atm?page=1#post_6501970
what about accounting and IT implications ?
@panchabhut bro, please throw some light
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This is a great move. What’s in it for the merchant?