A new, mobile experience will bring all the conveniences of digital payments – increased speed, security and transparency – to cash withdrawals. Mastercard just set out „to test the waters in a big way”, the company says, with one of the largest ATM manufacturers in the world, Diebold Nixdorf. The partnership between Mastercard and Diebold Nixdorf is to run trials with two ATM products – Mastercard Cash Pick-Up and Cardless ATM powered by Mastercard®, according to a press release.
„We’re testing the integration of our technology with their ATMs and middleware, ultimately enabling Diebold Nixdorf to offer these enhancements to their customers (banks and Independent ATM Deployers) in an easy-to-deploy service.”, says Dan Goodman, senior vice president of ATM Product Management at Mastercard.
Cash Pick-Up, announced last year, turns the ATM into a disbursement channel even if the beneficiary doesn’t have a bank account or a debit card. Click to learn how it works.
Cardless ATM will allow Mastercard cardholders to take cash out from the nearest participating ATM whether in their home town or while traveling abroad – initiated from the convenience of the consumers’ mobile banking app. Here’s how it works:
. Consumers open their bank’s app on their smartphone.
. They use the app to find nearby ATMs, choose the amount they want to withdraw and see the associated fees.
. Once at the ATM, they quickly snap or tap, often by scanning a QR code, authenticate using optional biometrics on device, and take the dispensed cash.
Mobile cash in Moldova, cardless ATMs Moldindconbank – You can easy withdraw cash at ATM via mobile application
https://www.youtube.com/watch?v=QlPDraHy73Mwidth=500&height=350
„By handling the majority of the transaction through the app, the consumer ensures sensitive information is only shared through the Mastercard cloud. Personal identity can be established by biometrics on the consumer’s device and tokenized card information is sent over the Mastercard network. Those who worry about fraud, skimming, and lack of fee transparency at ATMs can now handle those transactions more confidently.”, Goodman added.
„Our partnership with Diebold Nixdorf will bring global scalability to digital products for ATMs, so consumers’ experience stays consistent and banks further cement their relationships with them.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
