FIS Mobile Cash Access Service Coming to 70,000 ATMs
FIS is expanding its Cardless Cash mobile ATM withdrawal service across the U.S. under a new partnership with Payment Alliance International (PAI), the largest privately held network of ATMs in the U.S. The deal will bring Cardless Cash to 70,000 ATMs in PAI’s network.
The Cardless Cash app uses QR codes and the iPhone’s TouchID fingerprint authentication tool to enable users to withdraw cash at ATMs without swiping or inserting a payment card, protecting consumers from card skimming—a fraud technique wherein a device secretly reads a user’s card information—and “shoulder surfing,” where a user is observed while entering a PIN.
Launched in late 2014, Cardless Cash is supported by 34 banks and thus far has processed millions of dollars in cardless ATM transactions, according to FIS. The feature is part of FIS’s Pay Award-winning mobile wallet.
Mobile ATM access is a rising trend, with financial institutions including Bank of America, Wells Fargo and JPMorgan Chase planning to make their ATMs compatible with Apple Pay. Meanwhile, Pin4 is expanding its cardless ATM service, and Fiserv’s CardFree Cash service was named a Change Agent of the Year in the 2016 Pay Awards.
In other ATM news, Citi has launched a pilot program to provide customers of minority-owned banks and credit unions with surcharge-free ATM services. The Citi ATM Community Network will enable more than 300,000 consumers to withdraw cash with no surcharge at about 2,400 Citibank branch ATMs in markets across the U.S., including Chicago, Los Angeles, Miami, New York, San Francisco and Washington, D.C.
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