At the Global Fintech Fest 2026 in Mumbai, the National Payments Corporation of India (NPCI) unveiled instant card-issuing ATMs and two AI initiatives to enhance digital banking and credit access across India. The new ATMs can instantly issue RuPay cards and UPI QR codes, reducing onboarding times from weeks to minutes. The launch was led by Sanjay Lohiya, secretary of the Department of Financial Services, highlighting the expansion of ATM functions beyond cash transactions.
The open-source Android ATMs are designed to operate as digital banking units in transit hubs, rural areas, corporate parks, and educational campuses. These machines facilitate account openings, loan applications, cheque deposits, and instant issuance of cards and merchant QR codes. Nine major lenders, including State Bank of India, Bank of Baroda, and Slice Small Finance Bank, are currently trialing the ATMs in collaboration with manufacturers Hitachi Payment Services, Perto India, and Vortex Engineering, according to inc42.com.
NPCI also introduced AiNxt, an open-source, enterprise-grade agentic AI platform aimed at streamlining fintech operations by enabling the building, testing, and deployment of custom intelligent agents. This move aligns with NPCI’s broader strategy to deepen AI integration in financial services, potentially transforming customer service and operational efficiency. The initiative follows growing digital infrastructure efforts to expand credit access and improve fintech service delivery across India.
The rollout of these instant card-issuing ATMs and the AiNxt platform marks a significant step in NPCI’s digital banking expansion. The trial phase involving nine major lenders is ongoing, with the solution expected to enhance financial inclusion by providing faster, more accessible banking services in diverse locations nationwide.