Today, Cardless ATM is a reality for banked people but not for the unbanked. In keeping with its tradition, Paytoo is the first Mobile Wallet to offer this solution to the unbanked population.
Thanks to the great collaboration of GENMEGA, PAYMENT ALLIANCE and PAYTOO Mobile Wallet™, 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 1st ATM was delivered on July 1st in Florida and after a 90-day testing period testing, a nationwide deployment of several thousands will be done.
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.
The next step for our company will be the launch of the PAYTOO KIOSK which will offer a full payment center services, said Gary Gelman, Vice President of the ATM & KIOSK Division. Working with GENMEGA is a fantastic opportunity for us also said Gary.
And Wes Dunn, Vice President of Sales from GENMEGA said, "As payment technology continues to evolve and the need for convenience becomes paramount, the ATM needs to evolve as well. GENMEGA is excited to introduce PAYTOO's innovative and industry leading payment technology to the market on both our ATMs and kiosks. Together with our equipment and their PAYTOO's service, the market is sure to be well served in the payment space for many years to come."