PrivatBank introduced first in the world Android contactless ATM that runs on Android and allows to withdraw cash using your mobile phone. Alexander Vityaz, Deputy Chairman of PrivatBank made announcement during the conference "Money of the future".
According to Alexander Vityaz, a brand new technology of contactless ATMs - the "Black box " - will significantly reduce the cost of production of the devices and bank expenses for the network expansion.
"We have ruthlessly cut off completely unnecessary top from the usual ATM - said Alexander Vityaz. Now each customer has his own display, keyboard and a card reader - a smartphone . The new generation of ATMs are cheaper than usual in manufacture and maintenance, they are safe in terms of skimming and does the same task - withdraw cash to customers . "
New ATM from PrivatBank does not have the usual display with buttons and is equipped with NFC- reader. Inside the " black box" there is a first-class protection safe and the necessary minimum of electronics. First contactless ATMs will be installed in the offices of PrivatBank till the end of November. And in the first quarter of 2014 the bank is ready to start supplies of the revolutionary ATMs of own development.
Competitive (base + bonus)London, UK
© Finextra Research 2013