Diebold Federal Credit Union is piloting an ATM without a card reader or PIN pad that relies solely on mobile authentication
When a consumer scans a QR code at the ATM - developed by manufacturer Diebold - the touch-screen machine authenticates the user via cloud-hosted services to enable the cardless transaction. Consumers can also pre-stage cash withdrawals on their smartphone through a bank-branded mobile app supplied by Paydiant.
Frank Natoli Jr., chief innovation officer, Diebold, says the firm studied the digital and social habits of today's younger generation to develop the machine.
"The research led us to choose mobile devices for both the user interface and the authentication vehicle to ensure seamless connectivity between devices," he says. "Adding mobile wallet capabilities further capitalizes on the mobile mentality of Millennials."
Wintrust Financial Corporation and City National Bank are also piloting the 'Mobile Cash Access' machine in partnership with FIS, Paydiant and Diebold.