Money & Banking

Empays Payment Systems partners with Mastercard for cardless ATMs

Our Bureau Mumbai | Updated on June 09, 2020

Touchless ATM technologies being worked out in post Covid situation

With concerns over the spread of the coronavirus from contaminated surfaces, banks and payment companies are working on contactless ATM technologies.

On Tuesday, Empays Payment Systems, which runs the IMT Payment System, announced a partnership with Mastercard to launch ‘Cardless ATM powered by Mastercard’ in India.

The facility will help users digitally locate the nearest enabled ATM and initiate a withdrawal by simply scanning a QR code on the mobile phone, using their banking app.

“It will allow users to withdraw cash safely in four steps at the nearest enabled ATM — open banking app, scan QR on ATM, authenticate withdrawal amount on banking app and pick up cash from ATM — without the need to insert the physical debit or credit card into the ATM, thereby minimising any unnecessary contact, making it a cleaner withdrawal option as against regular cash withdrawals, especially during current times of Covid-19,” it said in a statement.

Porush Singh, Division President, South Asia, Mastercard, said users will be able to withdraw cash safely by completely eliminating the need to use a physical card or touch an ATM PIN pad, while providing the security of an EMV transaction, making it safe, quick and easy for people to access cash.

Ravi Rajagopalan, Founder and CEO, Empays Payment Systems said: “We are excited at the prospect of working with Mastercard to bring their Cardless ATM technology to the Indian market.”

On Monday, AGS Transact Technologies said it has developed and tested a touchless ATM solution. It introduced a ‘touchless’ (based on QR code) solution for cash withdrawals at ATMs.

The ‘contactless’ solution, which is being demonstrated at interested banks, would allow a customer to withdraw cash from the ATM using the mobile app.

Published on June 09, 2020

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