Phone Pay has introduced new PhonePe ATM feature, in which customer send money to merchant using PhonePe and take same cash amount from the merchant, according to PhonePe data currently 75,000 merchants have signed up for this service in Delhi/NCR, as this feature is live in Delhi/NCR currently but company has planned to expand depending on customer response.
Currently this feature is introduced for small transaction only, but if this service is successful the company can increase the transaction limit.
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