NewsVoir
New Delhi [India], March 18: RNFI Services Limited, through its fintech platform Relipay, today announced the nationwide rollout of its UPI QR-based cash withdrawal service in partnership with Jio Payments Bank Limited, following a successful pilot phase.
The service enables customers to withdraw cash instantly by scanning a UPI QR code at authorized outlets within RNFI's Business Correspondent (BC) network. Customers can simply scan the QR code, enter the withdrawal amount, and authenticate using their UPI PIN. Once completed, the merchant dispenses the cash, enabling a simple and frictionless assisted transaction experience.
Commenting on the launch, Krishnakumar Daga, Chief Executive Officer, RNFI Services Ltd. said, "UPI has transformed digital payments across India, but access to cash remains critical for millions, especially in rural and semi-urban markets. This service bridges that gap by combining the scale of UPI with the reach of our assisted network, enabling secure and seamless last-mile cash access."
The service will be available across RNFI's extensive merchant network, ensuring access to cash withdrawal services for customers across urban, semi-urban, and rural markets. In addition to improving customer convenience, the rollout is expected to drive higher transaction volumes and deepen engagement across the Company's merchant ecosystem.
Some of the key features of the service include fast and secure cash withdrawals through UPI QR scan, availability across authorized retail outlets, no requirement for ATM cards or biometric authentication, and a seamless experience across all UPI-enabled applications. The service offers a per transaction limit of Rs. 5,000, with a daily limit of Rs. 10,000 and a monthly limit of Rs. 50,000.
This launch marks a significant expansion of RNFI's assisted digital banking offerings and strengthens its partnership with Jio Payments Bank. As UPI adoption continues to scale, QR-based cash withdrawals are expected to emerge as a key assisted transaction channel, particularly in markets where access to physical cash remains essential.
About RNFI & Relipay
RNFI Services Limited is a fintech infrastructure company enabling last-mile financial access across India through its flagship platform, Relipay. The platform connects financial institutions with consumers through a nationwide assisted commerce network, offering a wide range of services including banking, payments, collections, insurance distribution, foreign exchange services, and digital financial solutions. By integrating technology, distribution, and financial partnerships, RNFI enables seamless delivery of essential financial services across urban, semi-urban, and rural India.
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