PAYTOO has announced its Mobile Wallet which offers cardless ATMs to the unbanked population.
This solution improves customer convenience and provides new services such as money transfer or the ability to give a PIN to family members so they could have cash access in times of need. The first ATM was delivered on July 1st in Florida and after a successful 90-day testing period testing, there will now be a nationwide deployment of the ATMs.
Once at the ATM, consumers can redeem a one-time pin generated from their PAYTOO® Wallet for a selected amount or they can just do a regular withdrawal by entering their phone number and security code. This technology provides an extra level of security to each account and account holder, as mobile phone verification is needed to make a transaction and the potential threat of card skimming is no longer an issue.
Michel Poignant, CEO of PAYTOO, said: “Once again, we are proud to offer efficient services to the unbanked population, and new options to many diverse businesses that need to disburse cash to their customers. Enabling lenders to offer instant access to cash to their customers or loyalties companies to offer Rewards point redemption for cash to their clients in about one minute, are just two of the new services offered.”
“Cardless ATM access can also be used in areas where card distribution is difficult but mobile phone availability is high, like for example, in emerging countries.” said Javier Garcia, Marketing Manager of PAYTOO.
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