Smartphones to Replace Cards at Bank Machines

  • The “cardless” ATM is gaining ground in the US and around the world, with smartphone technology allowing for speedier and more secure transactions.
  • US banking giants Wells Fargo, Bank of America and Chase are in the process of deploying the new ATMs, as are a number of regional banks and financial groups around the world.
  • Smartphone based systems aim to curb the growing skimming fraud which costed $2 billion in 2015.
  • BoA is rolling out this capability in select locations at the end of this month. Chase has similar plans.
  • “Headless” ATMs – without a display or keypad; ATMs solely interacts with the phones and do the transactions.

Reference

APF

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s