Ezeepay, a fintech platform enabling assisted digital financial services across India, has announced the launch of its new UPI Cash-Out service, allowing customers to withdraw cash seamlessly through its widespread network of banking outlets.
The service is expected to go live in the second week of April, in compliance with Reserve Bank of India (RBI) guidelines.
Ezeepay said that customers can now use UPI to withdraw cash ranging from a minimum of Rs 1,000 to a maximum of Rs 5,000 per transaction, with a monthly withdrawal cap of Rs 50,000.
The fintech firm said that service will be available across its network of agents and retail outlets, particularly in semi-urban and rural areas.
In addition, the platform has introduced a nominal commission model, where each cash withdrawal transaction will carry a fee, capped at Rs 10 per transaction, ensuring affordability for users while creating an additional income stream for agents and retail partners.
Commenting on the launch, Shams Tabrej, Co-founder & CEO, Ezeepay, said, "At Ezeepay, our mission has always been to bridge the gap between digital and physical financial services. With the introduction of UPI Cash-Out, we are empowering customers with a simple and secure way to access cash through their trusted neighborhood retailers. This service not only enhances financial convenience for users but also creates an additional income stream for our agents and retail partners, strengthening the overall ecosystem."
Ezeepay offers a wide range of assisted digital financial services including Aadhaar-enabled payments, bill payments, money transfers, and more, through its robust network of agents and retail outlets across India.