The Reserve Bank on Thursday requested banks to provide the option of Interoperable Card-less Cash Withdrawal (ICCW) at their ATMs, a move aimed toward checking frauds like skimming, card cloning, and device tampering. At present, cardless cash withdrawal through ATMs is offered by a few banks for their clients at their own ATMs (also called on-us premise).
“All banks, ATM organizations, and WLAOs (White Label ATM Operators) may give the choice of ICCW at their ATMs,” the national bank said in a circular.
It further said the National Payments Corporation of India (NPCI) has been encouraged to work with Unified Payments Interface (UPI) coordination with all banks and ATM organizations.
While UPI would be used for client authorization in such transactions, the settlement would be through the National Financial Switch (NFS)/ATM organizations.
“The on-us/off-us ICCW transactions will be handled without levy of any charges other than those prescribed (on Interchange Fee and Customer Charges),” the RBI added.
Further, withdrawal limits for ICCW transactions will be in accordance with the limits for regular on-us/off-us ATM withdrawals.