Mobile phone instead of bank card: the first banks are planning pilot installations of
automated teller machines that allow customers to withdraw cash using a smart phone – scheduled for live testing by a German and a Swiss bank in the near future.
Banks are integrating mobile technologies in all their customer channels. By enabling customers to withdraw cash via smart phone, they present themselves as “innovative institutions in tune with the times”.
Mobile banking options allow banks to optimize the loyalty they build among young people and students and address new customer segments.
The Wincor Nixdorf Smart ATM is operated via a mobile banking app that the customer uses to choose the account and the amount to be dispensed. The app transfers this information to the bank’s central host system, which sends a barcode back to the mobile phone.
The customer uses the ATM’s QR code scanner to scan this barcode for the purpose of identification, and the cash is then dispensed immediately. NFC technology is also available for authentication as an alternative to the QR code.
Beyond its modern operating concept, the speed with which the Smart ATM processes transactions is a sizeable advantage. And since the system no longer requires a card reader or a card to process cash withdrawals, it provides protection against skimming attacks.
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