Person-to-person payments coming to NCR ATMs

October 13, 2011 – NCR, the worldwide leader in ATMs, announced they will be working with PayPal and S1 Corporation to enable real-time person-to-person payments from their bank’s ATMs to almost anyone with a mobile phone or e-mail address. This service will initially be available in the U.S. with the ability to send money to people in more than 60 countries around the world.

After authenticating themselves at the ATM, consumers will have an option to send money to an individual. To do so, they will enter the recipient’s email address or mobile number, choose an amount to transfer, and the money will be immediately credited to the recipient’s PayPal account. If the receiver does not have a PayPal account, then he or she will need to enroll for a PayPal account in order to receive the funds.

Initiating a money transfer from an ATM gives a consumer a convenient, 24-hour/7-days-a-week vehicle for instantaneous payment, while maintaining the trust and security associated with ATM networks. In addition, person-to-person payments using the NCR/S1/PayPal ATM solution could be a less expensive transaction than other non-PayPal money transfer options currently available.

“Offering PayPal payments through the ATM channel can enable businesses to instantly pay their overseas or domestic suppliers and retail bank customers to send international and domestic payments, all with a few taps on an NCR ATM machine. We believe our ATM based solution will spur the growth of electronic payments in place of less efficient cash and checks while giving consumers, businesses and banks significant value.” said Dan Schatt, general manager, Financial Innovations, PayPal.

The person-to-person payments offering will be available to banks running on the S1 payment platform and using NCR APTRA Edge in the U.S. NCR anticipates the service being available beginning in the first quarter of 2012.

Source: NCR Corporation