An article relating to this blog post on Finextra:
UK banking industry set for contactless card roll out
UK banks will begin rolling out plastic credit and debit cards featuring contactless payment technology from either Visa or MasterCard to cardholders in September.
A while back I blogged about the potential of biometric ATMs. I was taken by the news that they are being used to pay illiterate workers in India but my hopes for this technology to make the world
a better place seem a tad optimistic.
Diebold CEO Tom Swidarski is dismissive about the potential for biometric cash machines because he feels that all the banks need to be on board for it to take off – there’s not much point in one bank
introducing biometrics if its customers still have to withdraw money the old fashioned way at cash machines owned by other firms.
He believes that biometrics may be more useful inside the branch, especially for safety deposit boxes.
Diebold also laughed off the notion that we are moving to a cashless society (no surprise there), claiming that the amount of cash in circulation in Japan - a contactless payments leader - is actually rising sharply (can anyone confirm this?).
In the short term the growth of contactless will gather pace but not at the expense of cash. New banking channels are about choice, not replacement - Internet banking does not stop people wanting to visit their local branch.
It’s the ATM’s 40th birthday this year, I’ve no doubt it will be around for it’s 50th but will it live to see 100?