New ATMs Use Phones Instead of Cards
- 11 years ago
At a recent banking convention, financial services company FIS announced that testing is already underway for ATMs that use phones instead of cards.
Roaming the world cash-less due to lost or forgotten debit cards may soon be a thing of the past.
At a recent banking convention, financial services company FIS announced that testing is already underway for ATMs that use phones instead of cards.
The process begins by installing an app and linking it to an account.
After that all you have to do is place an order for your money. That can be done up to 24 hours in advance or just seconds before your withdrawal as you’re standing in line.
Once you’re in front of the ATM all you have to do is scan a code on the screen with your phone and in no time you’ll be flush with cold, hard, cash.
Not only is it simple, it also saves time.
Reportedly, using the app instead of a card can cut the transaction time for cash down from 40 seconds to 9.
The security-conscious need not worry. Several layers of identity confirmation are built in to the process. Also, the app can’t be used without PINs and passcodes.
Roaming the world cash-less due to lost or forgotten debit cards may soon be a thing of the past.
At a recent banking convention, financial services company FIS announced that testing is already underway for ATMs that use phones instead of cards.
The process begins by installing an app and linking it to an account.
After that all you have to do is place an order for your money. That can be done up to 24 hours in advance or just seconds before your withdrawal as you’re standing in line.
Once you’re in front of the ATM all you have to do is scan a code on the screen with your phone and in no time you’ll be flush with cold, hard, cash.
Not only is it simple, it also saves time.
Reportedly, using the app instead of a card can cut the transaction time for cash down from 40 seconds to 9.
The security-conscious need not worry. Several layers of identity confirmation are built in to the process. Also, the app can’t be used without PINs and passcodes.