NCR, PayPal and S1 offer P2P payments through ATMs

NCR, PayPal and S1 offer P2P payments through ATMs

NCR, PayPal and S1 have teamed up on a service that lets people make real-time person-to-person payments from cash machines.

Initially available in the US, the system will enable customers to use their banks' ATMs to send money to people in more than 60 countries using their mobile phone number or e-mail address.

After authenticating themselves at NCR SelfServ ATM, customers will be given the option to send money to an individual. To do so, they enter the recipient's e-mail address or mobile number, choose an amount to transfer, and the money will be immediately credited to the recipient's PayPal account.

The partners are pitching the service to banks running on the S1 payment platform and using NCR Aptra Edge in the US, with availability slated for the first quarter.

Michael O'Laughlin, SVP, NCR Financial Services, says: "The ATM channel continues to play a powerful role in delivering new, multichannel financial services to consumers. Whether it is deposit automation, bill payment, money transfers or a variety of new and exciting products and services, NCR SelfServ ATMs provide a secure, trusted, and ever-present point-of-presence for the exchange of value by a bank or credit union's customers and members."

Dan Schatt, GM, financial innovations, PayPal, adds: "Offering PayPal payments through the ATM channel can enable businesses to instantly pay their overseas or domestic suppliers and retail bank customers to send international and domestic payments, all with a few taps on an NCR ATM machine."

Comments: (1)

A Finextra member
A Finextra member 12 October, 2011, 23:51Be the first to give this comment the thumbs up 0 likes

Fantastic! Yet another ATM service nobody will use.