No more card skimmers with this technology

JEK

Senior Insider
[h=1]Cardless Withdrawals With Touch ID Coming to Over 70,000 ATMs Nationwide[/h]Friday July 15, 2016 7:33 am PDT by Joe Rossignol
FIS and Payment Alliance International have announced a new partnership that will see cardless withdrawals with Touch ID enabled at over 70,000 ATMs at stores, gas stations, restaurants, and shopping malls across the United States.

PAI-ATM-Cardless.jpg

FIS Cardless Cash is a QR code-based solution that will reduce the risk of card skimming and shoulder surfing at ATMs by allowing customers to securely withdraw their funds through an iPhone app without inserting a plastic card into the machine. All transactions will require Touch ID verification as an additional layer of security.

Payment Alliance International is the largest independent operator of non-bank-owned ATMs in the United States, and its partnership with FIS makes NYCE the first national payment network to support mobile phone-to-ATM transactions.

Bloomberg previously reported that Payment Alliance International will start rolling out the technology in August or September, and plans to have cardless cash access at 25,000 machines in the U.S. by the end of 2017. FIS and Payment Alliance International did not confirm those specific plans in their announcement.

This announcement follows in the footsteps of Bank of America rolling out support for withdrawing cash from its ATMs using Apple Pay for a few months. Wells Fargo will also enable support for Apple Pay withdrawals at many of its ATMs by year end, while Chase Bank plans to upgrade its ATMs with cardless technology this year.
 
What's wrong with simply removing the magnetic strip from the card? Just keep the chip for old-fashioned pin-and-chip use and rfid-chip for contactless use.
 
I would prefer to use my Apple Watch and not dig that dirty old plastic card out of my wallet. So 1980s.
 
That's the beauty of contactless payments. You can have the "card" anywhere, in your watch, in your phone, in your wallet, in your keys, implanted to your finger. I've got a small stamp-sized MC PayWave sticker and I was thinking about putting it into an old note, and pay by just waiving the note by the reader.. Thumb up to Apple for pushing this technology but Apple Pay as such is starting to look like a carrier-locked phone.

While in Australia for 3.5 weeks, I used cash about four times (only because they had a $10 limit for non-cash payments). Pin-and-chip about seven times, a few places had an old credit card reader that didn't do contactless and a few restaurants wanted to use the pin-and-chip in order to encourage tipping. All the rest was contactless payments. Interesting detail is that the term for these payments in New South Wales is "Paypass" (Visa's name) but in Queensland they used "Paywave" (Mastercard's name).
 
Strange these limits on contactless payments as it is much more secure than the old way. Apple Pay coming to the web with Sierra.
 
The limits are result of financial world's stupidity. They think it as a replacement for cash, not as a way for card payments.

I use my bank's app on the phone that doesn't have the limit. It's the default use for the NFC chip on the phone so I just turn the phone on with my fingerprint and show it to the reader. No delays, no need to press anything on the display, it just works. Feels like it was designed by Steve Jobs himself but there's no Apples involved :)

When we left to Australia, I asked the taxi driver if he has contactless. He said that he does but it won't work (because the charge was 38€). I told him that let's give it a try anyway and flashed my phone to the reader -- it worked. It was the first time he had seen a contactless payment without the limit.

Overall contactless payments have made a big jump here in the last few months.
 
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