Mobile to ATM Payments

Note from the Publisher:  Coming soon to a US ATM near you……the ability to walk up to a convenient ATM – NOT insert a plastic card, but rather click command from your smartphone – and still withdraw funds and receive an (electronic) receipt.  Cardless cash.

“FIS and Payment Alliance International (PAI) have teamed up to offer cardless cash services across the US.

The partnership connects mobile solution FIS Cardless Cash to PAI – the nation’s “largest”, privately-held provider of ATM processing and maintenance services. FIS says the deal will “ultimately” expand to 70,000 ATMs in the PAI ATM network.

Anthony Jabbour, chief operating officer, banking & payments, FIS, says: “For banks, it’s a new revenue source and this widespread network should facilitate customer adoption.

FIS says FIS Cardless Cash “protects consumers by reducing risk of card skimming and shoulder surfing, both of which are on the rise at ATMs, according to industry data”.

By using FIS Mobile Banking with TouchID, customers can access their funds and authorise the amount they want without inserting a plastic card into an ATM.”

Read Full Article at BankingTechnology