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.
Wirecard has partnered with Apple Pay in France to launch boon, its mobile payment application.
The Emerging Payments Association discuss the impact of Brexit on the fintech industry at the latest payments industry event.
Following a milestone in August, when spending via contactless accounted for 20% of all card transactions in the UK, the technology has reached another: contactless now makes up a quarter of all UK card transactions, according to the latest figures from the UK Card Association (UKCA).
It’s no secret that customers increasingly prefer to use mobile banking apps to manage their cash ‘on-the-go’ over online banking.