Kozhikode: India's first QR code based coin vending machine (QCVM) has been installed at the Puthiyara branch of Federal Bank in Kozhikode district of Kerala. This machine installed in Kozhikode is a solution for those who want coins. Now coins of Rs 1,2,5,10 are available through this machine. Even if the facility of digital payment comes, we need coins for some work or the other. If you need coins, you can get them from coin vending machines as easily as withdrawing money from an ATM. For this you can scan the QR code from the QR code based coin vending machine and get the coin very easily. The process of taking coins from the machine is easier than the ATM machine.
Therefore, even a common man can use it very easily. What is QR code based vending machine? It is a cashless coin dispensing system that allows customers to do UPI transactions by scanning the QR code on the machine on their mobile phones. QR code based coin vending machine has been launched with the aim of helping people overcome the shortage of coins. By scanning the QR code and making the required payment, coins will be dispensed through the machine. Although earlier there were traditional coin vending machines, they issued coins only after accepting currency notes.
However, if payment is made by scanning the QR code in the QR code based coin vending machine without giving the currency note, the coin will be received. RBI has decided to install QR code based coin vending machines in 2023. Now this has become true with the installation of coin vending machine in the Kozhikode Puthiyara branch of Federal Bank. How does the coin vending machine work? This machine has been installed in the Fed Studio located in front of the bank.
Click on the required amount on the screen. A QR code will be displayed on the next screen. Open the digital payment app we have and scan the QR code on the machine. Once the payment is completed, the money will be transferred to the machine. Payment can be made through any digital payment app such as Google Pay, Phone Pay and Paytm. Any person can borrow money from the bank. At present there is huge demand for one rupee and two rupees. Bus drivers and shopkeepers come here in large numbers. This is a big relief for those students who are availing the benefit of discount in bus fare.
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