RBL Bank in Partnership with Empays Payment Systems Launched Cardless Cash Withdrawal Facility from ATMs through IMT System 

In order to expand RBL Bank’s suite of contactless banking services, it has launched a cardless cash withdrawal facility from Automated Teller Machines (ATMs), through the Instant Money Transfer (IMT) system in partnership with Empays Payment Systems India Pvt Ltd. This service enables the customers of the RBL Bank to withdraw cash without their debit cards from 389 IMT-enabled bank’s ATMs or more than 40,000 other bank ATMs across the country.

Key Info

i.A Customer to avail the service must log into the RBL’s ‘MoBank(Mobile Banking) app’ in order to locate an ATM that supports the IMT function and initiate cash withdrawal by either using their mobile number linked to the account or by following a few steps on the app.

ii.The tie-up will provide the RBL bank with additional security and facilities for its customers.

Note– This service is the latest value-added service of theRBL bank’s growing contactless banking suite.

About IMT

i.The IMT Payment system is the world’s largest cardless ATM system. It has been licensed by the Reserve Bank of India(RBI) as a national payment system.

ii.Already member-bank ATMs have been linked to the IMT. This will enable the customers of a particular bank to use the ATMs of any member-bank to withdraw cash from their accounts or remit money. 

iii.The network of IMT is gradually enlarging to include micro ATMs and other non-ATM outlets.

Recent Related News:

i.ICICI Bank in partnership with Computer Age Management Services(CAMS) launched ‘Insta Loans against Mutual Funds’, a facility for retail customers to avail loans upto Rs 1 crore instantly by pledging their holdings in both debt and equity Mutual Funds(MFs).

ii.RBL Bank (formerly known as Ratnakar Bank),an Indian private sector bank, has entered into a partnership with Online food ordering and delivery app Zomato to launch co-branded credit cards, powered by Mastercard, for Zomato users.

About RBL Bank:
HeadQuarters– Mumbai, Maharashtra
Managing Director(MD)& Chief Executive Officer(CEO)– Vishwavir Ahuja

About Empays Payment Systems India Pvt Ltd
HeadQuarters– Mumbai, Maharashtra
Founder and CEO– Ravi Rajagopalan