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QR Code-Based Coin Vending Machine

Kumari Sonali

QR Code-Based Coin Vending Machine:

To improve the distribution of coins, the RBI is preparing a pilot project on QCVM in collaboration with a few leading banks

  • QCVM is a cashless coin dispenser that dispenses coins in exchange for a bank account debit via the Unified Payments Interface (UPI).
  • Unlike traditional cash-based Coin Vending Machines, the QCVM would not require banknote tendering or validation.
  • This will offer ease and ready access to coins for customers via the UPI facility.

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