‘No ATM needed’: Ezeepay launches UPI cash-out service to allow easy cash withdrawals at retail outlets

Ezeepay, a fintech platform focused on enabling assisted digital financial services across India, has announced the rollout of its new UPI Cash-Out service. The feature will allow users to withdraw cash easily through the company’s extensive network of banking and retail outlets.

The service is set to go live in the second week of April and will operate in line with guidelines issued by the Reserve Bank of India (RBI).

With this launch, customers will be able to withdraw cash using UPI, with transaction limits ranging from a minimum of Rs 1,000 to a maximum of Rs 5,000. The platform has also set a monthly withdrawal cap of Rs 50,000.

According to the company, the UPI Cash-Out facility will be available across its wide network of agents and retail partners, with a strong focus on expanding access in semi-urban and rural regions.

Ezeepay has also introduced a nominal commission structure for the service. Each transaction will carry a fee capped at Rs 10, ensuring affordability for users while also providing an additional revenue stream for agents and retail partners.

Commenting on the development, Shams Tabrej, Co-founder and CEO of Ezeepay, said the initiative aligns with the company’s broader vision of bridging the gap between digital and physical financial services. He noted that the UPI Cash-Out service will enable customers to access cash in a simple and secure manner through trusted neighborhood outlets, while also strengthening the ecosystem by creating earning opportunities for partners.

Ezeepay currently offers a range of assisted digital financial services, including Aadhaar-enabled payments, bill payments, and money transfers, through its growing network of agents and retail outlets across the country.