No ATM, no card: Jio Payments Bank introduces UPI cash withdrawal

Jio Payments Bank on Tuesday introduced UPI-based cash withdrawal services through its business correspondent (BC) network, targeting improved access to banking services in rural and semi-urban areas.

Jio Payments Bank Ltd (JPBL), a wholly-owned subsidiary of Jio Financial Services Ltd, said the facility allows customers to withdraw cash by scanning a UPI QR code and authorising the transaction through their UPI applications, without the need for debit cards or ATMs.

“The feature enables customers, particularly in rural and semi-urban areas, to conveniently withdraw cash by simply scanning a UPI QR code and authorizing the transaction through their UPI application, eliminating the need for debit cards or access to traditional ATM infrastructure,” the company said in a statement.

The bank said the service would be available through its BC touchpoints.

“By enabling cardless cash withdrawals at BC touchpoints, the initiative bridges the gap between digital payments and physical cash access, while providing first-time digital users with an assisted and secure way to experience UPI transactions,” it added.

JPBL said it will leverage its last-mile BC network to expand access to banking services and deepen the reach of UPI among cash-dependent segments.

“Through this initiative, JPBL continues to leverage the digital payments infrastructure and its last-mile BC network to expand accessible banking services, strengthen UPI's reach among cash-dependent segments, and enhance financial inclusion across rural and semi-urban India,” the statement said.

Jio Financial Services Q3 results

Jio Financial Services posted an 8.75% year-on-year (YoY) drop in its consolidated net profit to ₹268.98 crore for the third quarter of the 2025-26 financial year (Q3FY26).

In the corresponding period of the previous fiscal year, it had clocked a profit of ₹294.78 crore.

The Reliance Group firm's total revenue from operations, however, surged one-fold annually to ₹900.90 crore during the quarter under review, compared to ₹294.78 crore in the December quarter of FY25.