The new ATM service allows bank customers to use an ATM to transfer funds from their card accounts to another individual who needs no card to receive the transferred cash at another ATM.

A sender specifies the transfer amount, the currency and the recipient's mobile telephone number. WAY4 automatically generates a code consisting of two parts: the first is printed on the ATM receipt and the second is delivered by SMS message to the transfer recipient. The cardholder shares their part of the code with the recipient.

Before the recipient receives the transfer in cash they must enter both parts of the code, the expected amount, and the transfer currency at any Moldindconbank ATM. After the data has been verified, WAY4 authorises the cash withdrawal. To increase the security the validation period is strictly limited: if the amount is not withdrawn within 24 hours, the money is automatically returned to the sender's card account.

More than 170 Moldindconbank ATMs across Moldova support cardless cash withdrawals thanks to WAY4 technology.

"WAY4 Cash By Code technology is already being used successfully by our clients in other parts of the world – active users include cardholders of financial institutions in Azerbaijan and Kenya. The technology is popular as it is easy and transparent for customers, and it also provides the required level of security," comments Dmitry Dovgal, Deputy Director of Business Development, OpenWay.

"Over the past few years, Moldindconbank, with the support of our partner OpenWay, has been implementing innovative issuing, acquiring and self-service channel solutions. The WAY4 platform's flexible architecture allows our bank to work with client profiles and quickly implement innovative services in the omni-channel model. We expect a high degree of interest in this new and convenient service that is unique for our market," – Dmitry Nikolaev, Director of the Bankcard Department, Moldindconbank.