Electronic processing platform Payworld has launched Payworld Cash Point — a service that would help a user withdraw cash from select retail establishments. An authorised shopkeeper would be able to use a Payworld app on his smartphone to swipe a user’s debit card. Up to Rs2,000 can be withdrawn from an account using this facility.
Payworld has tied up with State Bank of India to operate this. Payworld plans to install these cash-out facilities at all retail outlets under its coverage. It would provide the technology and hardware for the retailers. Payworld is targeting Tier-III, Tier-IV cities and rural areas.