Barclays is set to jump on to the contactless cash trend by allowing customers to withdraw up to £100 by tapping their smartphones or contactless cards at the ATM.
Customers with NFC-enabled smartphones will be able to simply enter their PIN into the phone before tapping it against the terminal, with trials starting as early as next month, reports The Telegraph.
By January the bank aims to have around 500 ATMs offering the new service in around 200 branches, followed by a wider roll-out.
Initially the service will only work on Android phones that have the Barclays app installed.
Ashok Vaswani, CEO of Barclays UK, says: “Our customers now expect to be able to use their smartphone to make their everyday purchases. We want taking out cash to be just as easy. With Contactless Cash customers can quickly and securely take-out money with just a tap of their smartphone – a first for the UK.”.
For those who want to see what a world with contactless ATMs, have a look at the US, where several companies have been trialling cardless ATMS.
— PaymentEye (@PaymentEye) April 5, 2016
In the summer as well, a FIS partnership with Payments Alliance International (PAI), America’s largest, privately-held provider of ATM processing and maintenance services, meant that iPhones could be used to withdraw cash at 70,000 ATMs.
For al the joys of giving your loved ones gifts, the process of buying said gifts is a source of much stress, according to new research from Barclaycard. The card issuer found three quarters (72%) of the British population get stressed while Christmas shopping.
Amazon have recently launched their new in-store innovation service, Amazon Go.
Contactless cards made up 22% of all card transactions in the UK in September, according to the latest figures from the UK Card Association. Payment card spending grew by 0.6 per cent in September to reach £54.7 billion.
In this guest post, Anthony Walton, CEO of Iliad Solutions, explores how businesses and regulators can increase the safety and efficiency of transactions, and introduce technological advances into the system.