NCR has introduced a card-less and PIN-less ATM withdrawal system that sees customers initiate transactions through their mobile phones and then scan 2D barcodes on the machines' screens.
Customers authenticate through their existing mobile banking application and 'pre-stage' the transaction via an embedded NCR cash withdrawal function. Once at their bank's ATM, they scan the 2D barcode on the home screen and the money is dispensed.
NCR says that by removing cards and PINs from the process, its new system offers a more secure approach to traditional ATM transactions. No consumer data is stored on the device or contained within the on-screen 2D barcode while the threat of card skimming is killed off.
With no additional hardware required, just a software upgrade, the vendor is also touting the system's simplicity and cheapness for banks. However, it has not named any customers and says it is "looking for partnership opportunities".
Jaivinder Gill, MD, NCR, India, says: "NCR Mobile Cash Withdrawal will help financial institutions meet their customers' expectations in the mobile channel, and help them deliver a differentiated and faster converged-channel experience."