PEORIA, Ill., and SIOUX FALLS, S.D. (8/6/14)--The ATM Industry Association (ATMIA) and Kahuna ATM Solutions have released a free white paper on cardless and mobile ATM transactions.
"Cardless ATMs: Are Mobile Transactions the Future of the ATM Industry?" explores how cardless technology works; the difference between Europay-MasterCard-Visa (EMV)-based cardless transactions and contactless transactions, the mobile ATM solutions on the market today; and how financial institutions and independent ATM deployers are approaching cardless-accepting ATMs in other parts of the world.
"We have entered a mobile-digital age and there is no turning back," said Mike Lee, ATMIA CEO. According to the 2014 U.S. Independent ATM Deployer Survey, 34.7% of independent ATM deployers are developing a strategy for implementing contactless ATM transactions.
With MasterCard's liability shift to EMV quickly approaching, U.S. independent ATM deployers are focused on putting their EMV migration plans in place. However, EMV-based technology also brings opportunities for new technologies such as cardless transactions, said David Tente, executive director of the U.S. ATMIA chapter.
"While we have everyone thinking about upgrading to chip technology, we also need to think about cardless--not just EMV from a contact-card sense," said Bryan Bauer, president of Kahuna ATM Solutions, a business development service company serving independent ATM operators. "What independent ATM deployers must consider when upgrading to EMV are the types of transactions they plan to accept five to 10 years from now."
Diebold Inc., a CUNA Strategic Services provider, has developed the first ATM that includes integration with mobile devices via the cloud, allowing consumers to complete secure, cardless transactions. It also features a new user interface that enables touch gestures, such as flick and drag, commonly used with smart phones and tablet devices. For more information, use the resource link.
To download the white paper, use the link.