Payworld, an Indian electronic processing platform, has launched Payworld Cash Point, a service that lets consumers obtain cash at retail points in areas without ATM access. Payworld has partnered with State Bank of India to operate the scheme.

"This would also be helpful to the millions of people in rural and semi-urban areas that have opened bank accounts ... and have debit cards but no access to an ATM machine in their neighborhood," a Payworld press release said.

To provide the service, a retailer simply needs to install the Payworld mobile app on a smartphone equipped with a card-reader dongle. Payworld provides both the app and the card reader.

"All [the retailer] has to do is to swipe the walk-in customer's debit card and, upon authorization by the bank, pay out the cash," Payworld said. Accountholders may request up to 2,000 rupees in cash (approximately $30), according to the company.

The Payworld announcement said that the company is targeting Tier III and Tier IV cities and rural areas where bank branches and ATMs are scattered.

Payworld COO Praveen Dhabhai said that the company's initial plan is to launch the scheme with 500 retailers and gradually scale up to more than 5,000 retailers by March 2016.