Cardless Cash Access Via Smartphone Apps on the Rise
Posted in: Uncategorized
Forgot your bank card at home? No worries. Many ATMs will soon dispense cash with help from a smartphone and banking app.
A growing number of banks are letting consumers arrange withdrawals via their mobile app and pick up the cash at a nearby automated teller machine. Customers authenticate the transaction by scanning a QR code with their phone, entering a one-time security code or tapping their device on the machine.
The idea is to help customers who have forgotten their cards or worry about thieves stealing their card data via ATMs. While so-called cardless cash access is only available at about 2,000 of the half a million or so U.S. ATMs in use today, it’s expanding rapidly and will be at as many as 95,000 machines by year end, according to payments researcher Crone Consulting.
Post a Comment