ATM cardholders can now withdraw cash from an ATM machine by scanning a QR code on its screen without having to touch the surface. The organization is providing a demonstration of this solution to the different banks. This enables a bank customer to perform all the steps required to withdraw cash from an ATM using the mobile application.
They just have to scan the QR code displayed on the ATM screen and follow the directions on their respective bank’s mobile application which includes entering the amount and mPIN required to dispense the cash from the ATM machine. The QR code feature makes cash withdrawals quicker and more secure without touching the ATM machine. “As of now, the process was similar. But the customer had to enter the amount in the ATM.
We have launched an entirely contactless solution,” said Mahesh Patel, group chief technology officer, AGS. Banks that use the Mastercard network can approach AGS Transact Technologies to implement it for their customers. The contactless withdrawal not only helps in the time of pandemic, it would also help reduce frauds at ATMs. “When we first started working on the technology around two-two and a half years back, one of the primary reasons to offer cash withdrawal via mobile app was to reduce ATM frauds,” said Patel.
AGS Transact Technologies had first started offering the solution with Bank of India (BoI), which was not entirely contactless. A customer had to enter the amount in the ATM machine. But now, they have implemented a complete contactless solution for BoI, too.
“We are now offering it at the bank level, which works only with the specific bank ATM. In addition, it is also available at network level (Mastercard-enabled cards) that can be used at any ATM,” said Patel. To be able to offer complete contactless withdrawal, a bank needs to make some software changes and configure their ATM switches.