Spice Money, a subsidiary of Digispice Technologies, has launched its UPI Cash Withdrawal Service across its network of 16 lakh Business Correspondent outlets.
The service enables customers to withdraw cash using any UPI-enabled app at Spice Money Adhikari outlets, turning local shops into UPI-enabled cash withdrawal points. The cardless service complements existing channels such as Aadhaar Enabled Payment System (AePS) and micro-ATMs.
Customers can withdraw up to Rs 5,000 per transaction and Rs 10,000 per day. The service is interoperable across banks and UPI applications, including PhonePe, Google Pay, Paytm and BHIM.
The launch also provides an additional revenue stream for Spice Money’s Adhikaris, who earn a commission on each withdrawal transaction.
To drive awareness, Spice Money has launched an integrated performance marketing campaign, ‘Cash Se Cash – Spice Money UPI Cash Point’. The campaign positions Adhikari outlets as neighbourhood UPI cash points and is supported by digital films titled ‘Basanti Talkies’, ‘Shanti Talkies’ and ‘Rocky Talkies’.
Commenting on the launch, Dilip Modi, Founder and CEO of Spice Money, said, "UPI revolutionized how India pays; now, we are using it to revolutionize how Bharat accesses cash. Today, a trusted neighbourhood shop can also serve as a UPI-enabled cash withdrawal point, bringing banking services closer to millions of people. By turning 16 lakh Adhikari outlets into seamless, cardless micro-ATMs, we are bridging the last-mile banking gap where traditional infrastructure falls short. This service brings frictionless cash access to the doorsteps of rural India while creating a powerful, sustainable revenue stream for local micro-entrepreneurs."
The UPI Cash Withdrawal service is available through the Spice Money application and is aimed at improving cash access in areas with limited banking infrastructure while strengthening the role of local retailers as last-mile financial service providers.
